Payden & Rygel has won another bond mandate from an Italian client since the opening of a Milan office last year.
The €230 million global government bond mandate is for Fon.Te, a pension fund for trade, tourism and service workers.
Payden & Rygel, which is headquartered in Los Angeles, opened its first international office outside of London last year.
Since then the firm announced it had won a €250million absolute-return bond mandate from Italy’s Telemaco Pension Fund.
Payden & Rygel, which announced the Fon.Te win last week, has $114 billion of assets under management, mainly in fixed income assets.
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