LM Capital Group has repurchased the 35% share it sold to a CalPERS joint venture in 2002, Pensions & Investments reports. The money management firm has bought back its stake from Investment Group Ventures.
The company formed the joint venture with the $234.7 billion retirement system to acquire the share in the money manager. CalPERS has a $249 million investment in an LM Capital fixed-income strategy.
