Between Conflagration and Functionality: How LA's Asset Managers Continue Despite Wildfire Chaos

The recent devastating wildfires in Los Angeles present enormous challenges for the asset management firms based there. In an environment that is home to large companies such as Capital Group, TCW Group, as well as the hedge funds Oaktree Capital and Ares Management, many firms are forced to adapt their operations. Together, these giant companies manage more than $4 trillion of global assets in the USA. The fires have reduced entire neighborhoods to rubble, severely affecting both suburbs and exclusive areas. TCW’s President and CEO Katie Koch reported the loss of her home and many of her employees in a letter to her colleagues. Despite these losses, all employees are safe, as confirmed by a TCW spokesperson. Anacapa Advisors suffered a particularly severe setback, as their new office in Pacific Palisades was completely destroyed by the fire. Both Anacapa and other asset managers have successfully activated their emergency plans during the crisis and are now working predominantly remotely, supported by digital platforms. In addition to Anacapa, other firms such as the Millennial Institute and Dimensional Fund Advisors have shifted to remote work due to poor air quality. Pimco, located a few miles south, was spared from the immediate fire threats and declined to comment.