CalPERS and Strategic Investment Group Select Golden Capital Management to Manage $200 Million.Business Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--Dec. 21, 2000 The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System (CalPERS) and Washington, D.C.-based Strategic Investment Group announced today that they have selected Golden Capital Management to manage $200 million of U.S. equity as part of CalPERS ' innovative Manager Development Program (MDP MDP Mot de Passe (French: Password) MDP Markov Decision Process (artificial intelligence) MDP Management Development Program MDP methylene diphosphonate MDP Millennium Democratic Party ). The pension fund and Strategic will also make an equity investment in the firm. Golden Capital Management, headquartered in Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation). Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. , is the third money manager chosen to participate in CalPERS' MDP -- an effort by the pension fund to tap new and emerging money management firms to boost the System's investment returns. "Young and successful firms like Golden Capital Management are the future of the money management industry," said Michael Flaherman, Chair of CalPERS Investment Committee. "With CalPERS' assets and Strategic Investment Group's support, Golden can help us realize superior returns while becoming a significant player in the institutional investment industry." CalPERS' MDP was established in 1999 and has up to $4 billion committed in funding. The program seeks to achieve superior investment returns while providing opportunities to new and emerging money managers that may not have the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. track record and marketing clout to compete against institutional giants. CalPERS and its partner Strategic Investment Group will also provide emerging firms with assistance in business management and development. In addition to its investment returns, the pension firm expects to realize profits from its equity positions upon exit. The investment in Golden Capital Management will increase the firm's assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. to nearly $400 million. Greg Golden, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. , President of Golden Capital Management noted that, "the partnership with CalPERS and Strategic Investment Group will give the firm critical mass across all product lines as well as underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. our credibility with institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. ." CalPERS is the nation's largest public fund with assets totaling approximately $170 billion. The System provides retirement and health benefits to more than 1.2 million state and local public employees and their families. For further information about CalPERS, please visit the System's web site at www.calpers.ca.gov. For information about the MDP, please visit www.2strategic.com. Golden Capital Management, founded in March 1999, was formerly a division of Smith Asset Management Group, L.P., which will retain a minority interest in the new firm. Please visit Golden Capital Management's web site at www.gcm1.com to view more detailed information on the firm. |
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