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Firms Paid $125 mln for Calpers Business

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"Investment firms paid placement agents more than $125 million in fees to win business at Calpers, including nearly $59 million to a firm led by a former board member of the pension fund, Calpers said on Thursday. The biggest U.S. public pension fund, reporting the findings of its review of the role of the middlemen, said the data made the case for more regulation of placement agents."
SOURCE:   Reuters

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