Calpers wins $50m cut in fees from CIM Group

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US - CIM Group, a Los Angeles real- estate investment manager, agreed to cut fees it charges the California Public Employees' Retirement System, the biggest U.S. government pension, by $50m, the fund said.

CIM will reduce fees over five years on new and existing portfolios that it manages and won't use middlemen, known as placement agents, to win business from the fund, Joe Dear, the pension's chief ...

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