CalPERS Cuts Ties With Centinela

The California Public Employees’ Retirement System severed its six-year-old contract with Centinela Capital Partners, a Los Angeles private equity custom account manager that oversaw two emerging manager accounts worth $1 billion, according to Brad Pacheco, a CalPERS spokesman. Earlier this year, Centinela filed a complaint against the $245 billion pension system claiming racial bias in CalPERS’s decision to choose another firm, Credit Suisse Customized Fund Group, to manage a third account with a similar mandate.

ManagersEmerging Managers