CalPERS cracks down on gifts, travel and fees
Thu Mar 24, 2011
The $228 billion California Public Employees’
Retirement System conducted a special review of fees paid by
external managers to placement agents and an analysis of more
than 70 million pages of information collected from more than
400 managers and more than 140 interviews.
The special review began in 2009 and resulted in more than
$200 million in fee concessions from leading external managers,
plus another $100 million in fee reductions from other large
external managers as each firm agreed not to use a
ISSN: 2151-1845 / CDC10004H
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