eSecLending, a Boston provider of securities lending services, said it has awarded about $84 billion of lending contracts in U.S. equity and foreign fixed-income securities for the California Public Employees' Retirement System, the nation's largest public retirement pension fund.
Lehman Brothers won the majority of the auctioned U.S. equity assets, eSecLending said Thursday. Citigroup Inc.'s prime finance division, which was awarded access to two significant portfolios last year, extended its relationship for another year.
BNP Paribas SA won access to portions of the fixed-income funds.
In addition, Calpers awarded a portion of the U.S. equity assets to Boston Global Advisors, a division of Goldman Sachs Group Inc.
"The auction process again has achieved remarkable returns for Calpers' securities lending program," Dan Kiefer, the fund's portfolio manager, said in a press release. "Our lending program is actively managed, and by repeatedly re-auctioning our lendable assets, we continue to optimize our return."
eSecLending services more than $450 billion in lendable assets on behalf of its clients.
