
Where Insight Meets Active Management
Payden & Rygel is an independent global investment manager specializing in investment solutions. Our collaborative culture, client focus and rigorous risk management bring insight to the most customized portfolios.
Our Story
For more than four decades, Payden & Rygel has served institutional investors as an independent global investment manager. Founded in 1983, the firm remains privately owned and focused exclusively on investment management. Our culture emphasizes deep research, disciplined risk management, and close collaboration with clients to build portfolios aligned with long term objectives.
Independence
Tenure & Stability
Global Presence
Customization
Diversity & Inclusion
Risk Management
Measured Milestones: Independence & Discipline
Where Experience Meets Discipline
Payden & Rygel approaches investing with experience, discipline, and care. Our investment teams apply a structured process grounded in research, risk awareness, and market understanding. We evaluate opportunities with close attention to liquidity, market structure, and implementation considerations.This consistent, analytical approach reflects our long-standing commitment to stewarding client assets across changing market environments.
Active Management
Our investment teams evaluate markets, credit fundamentals, and relative value to build portfolios aligned with client objectives.
Client Focused
Our clients engage directly with experienced investment teams to build customized strategies tailored to their objectives.
Investment Expertise
Specialized investment teams combine deep credit research with disciplined portfolio management.
Global Presence
Our teams monitor markets around the world to identify opportunities across global fixed income and equity sectors.

Our Clients
We advise clients with real-world strategies on the global economy and capital markets. Investment management is our only business, and every client is important. Our clients include:

Corporations
We provide corporations with balance sheet management and cash sweep management.

Insurance
We work with diverse insurance clients across P&C, Health, Life, Captives, Reinsurance, Run-off and Guaranty Funds. Our insurance team leverages its regulatory expertise to create highly tailored investment solutions.

Pension Plans
We manage total return and liability-driven investing (LDI) strategies for defined benefit (DB) and defined contribution (DC) corporate and public plans.

Endowments, Foundations & Non-Profits
We serve public and private higher education institutions as well as eleemosynary organizations, managing operating funds and long-term investment pools.

Public Entities
We work with state and local government authorities, sovereign wealth funds, central banks, and supranational organizations to deliver tailored investment solutions.

Health Care
We work with health systems and hospitals, supporting their operating funds, endowments, and project funding needs.

Wealth Managers
We partner with global wealth managers to deliver fund solutions and dedicated sub-advised strategies for their clients.

High Net Worth
We work with high net worth individuals, family offices, and charitable trusts to deliver tailored investment solutions.
Our Team
Meet the leadership guiding our investment strategies.

Joan A. Payden, CFA
President & CEO

Brian W. Matthews, CFA
Managing Director, CFO

Kristin J. Ceva, PhD, CFA
Managing Director

Jeffrey C. Cleveland
Managing Director

Alfred Giles, CFA
Managing Director

Bradley F. Hersh
Managing Director

Arthur Hovsepian, CFA
Managing Director

Nigel Jenkins, ASIP
Managing Director

Laura Lake, CFA, CAIA
Managing Director

Jordan H. Lopez, CFA
Managing Director
Locations
Los Angeles - Headquarters
Boston
London
Milan

