Credit Suisse First Boston (CSFB) has won the exclusive right to borrow $57bn (€66bn) California Public Employees' Retirement System's (Calpers) equity assets in the first, and largest, online securities lending auction.

Calpers, the largest US pension fund with $177bn (€206bn) in assets, was the first institution to conduct a live online securities lending auction. Via eSecLending, CSFB bid for the right to act as the exclusive securities lending principal borrower for Calpers Wilshire 2500 and small cap stock portfolios for a guaranteed fee.

CSFB win right to borrow $57bn in pension assets

Niki Natarajan

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