The investment manager, which has maintained its headquarters in Los Angeles since its 1931 founding, currently occupies 14 floors of the landmark structure. Plans are underway to expand that footprint to 19 floors as the firm moves to centralize associates currently spread across three different locations. The building will continue to operate as a multi-tenant facility with Capital Group serving as both anchor tenant and landlord.

Chief Operating Officer Rob Klausner noted that the purchase signals a commitment to both the company’s associates and the broader Los Angeles community. This real estate move aligns with a broader $70 million initiative announced in April to bolster client-facing capabilities. As part of that expansion, the firm intends to add approximately 130 sales and support roles over the next two years, bolstering its global strategy which includes the upcoming launch of a Charlotte office. Having occupied the site since 1978, the firm remains a major financial anchor for the city, having contributed over $160 million to local nonprofits in the last 15 years.