LA asset management firms overseeing more than $4T scramble to recover after wildfires

Several workers at Los Angeles-based asset management firms, which in total oversee more than $4 trillion, are scrambling to find new homes — and some of the businesses are seeking new headquarters — after the California wildfires destroyed their properties.Anacapa Advisors, a $60.5 million hedge fund, moved into a new four-story office building in the Pacific Palisades just four days before it burned down, according to Anacapa founder and chief investment officer Phil Pecsok.Pecsok told The Post he left the office last Tuesday when the fires began and went straight to his nearby home — where he fought the flames on his own for nearly eight hours.His home survived.However, Jordan Moore, the firm’s operations manager, lost her home and all of her belongings, he said.All of the firm’s employees are safe and the company successfully activated a detailed business continuity plan that they had put together in case there was an earthquake, Pecsok said.Anacapa is looking to sublease new offices in Santa Monica or Brentwood.

In the meantime, staffers are working remotely while the firm places orders for additional trading screens, Pecsok added.“Honestly, the fund continues to go along without a hitch even though our lives are completely changed forever,” Pecsok told The Post in a statement.TCW, a firm that manages $203 billion in assets, said its LA-based staffers are safe and accounted for, and that its headquarters remain fully operational.“A number of our team members have been displaced and several have lost their homes completely, my family included,” said Katie Koch, president and CEO of TCW, in a letter to her LA colleagues that she posted on LinkedIn.A Capital Group spokesperson told The Post its headquarters were not impacted and that its employees are safe, though they were unsure how many employees lost their homes or were impacted by the fires.The firm had more than $2.7 trillion in assets under management as of June 2024, according to its we...