Wildfires Spark Relocation and Resilience in LA Asset Management Firms

Asset management firms in Los Angeles, including major players like TCW Group and Oaktree Capital, are contending with the effects of wildfires. These fires have displaced workers and destroyed properties, prompting firms to adopt remote work setups and implement business continuity plans to ensure operational stability.

Los Angeles-based asset management companies are facing significant challenges as large-scale wildfires disrupt their operations. Some firms are resorting to relocating office spaces, while others are offering support to staff members who've lost their homes in the disaster.

The Los Angeles area, a hub for major industry players such as Capital Group, TCW Group, and hedge funds like Oaktree Capital and Ares Management, is responsible for managing over $4 trillion of the $132 trillion global assets in the U.S. The destructive blazes have left neighborhoods in ruins, affecting suburbs and wealthy areas alike.

Amid these challenges, companies like TCW and Anacapa Advisors have assured the safety of their employees, providing remote work solutions. Asset management firms continue to monitor the risk of further fire spread, facilitated by Santa Ana winds, and have implemented precautionary measures to ensure business continuity during this perilous time.

(With inputs from agencies.)