Relational Investors and Ares Management to reduce Fees for CalPERS

June 21st, 2010
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Ralph Whitworth’s activist focused Relational Investors LLC will join Ares Management LLC in reducing management fees to the California Public Employees Retirement System (CalPERS). According to Bloomberg, Relational will cut fees by $30 million, while Ares will forego $10 million in fees over the next five years. Both firms agreed to cut out middlemen, which are a strong source of fees.

According to the article, pension manager CalPERS has a $1.5 billion commitment with Relational Investors.
For Detailed Investor Profiles on these Investors, click below:
Relational Investors LLC
Related People: David Batchelder; Frank Hurst*; Glenn Welling*; Henry Jay Winship; John A. Sullivan; Kirt Karros; Ralph Whitworth
Related Entities: California Public Employees' Retirement System; CalPERS Equities; CalPERS Investments; Relational Investors Alpha Fund I LP; Relational Investors IX LP; Relational Investors LP; Relational Investors Mid Cap Fund
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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