Capital Group to Buy LA Headquarters Tower, Plans Charlotte Hub

Capital Group, the world’s largest active fund manager, is buying its current headquarters building in downtown Los Angeles as part of expansion plans that also include opening an office in Charlotte, North Carolina.

The closely held firm, which has called Los Angeles home since the 1930s, agreed to acquire 333 S. Hope St., known as Bank of America Plaza and one of the city’s tallest buildings. Capital Group intends to consolidate its LA operations at the 55-story tower and eventually base more than 2,100 employees there, according to a statement Thursday.

“We knew the best landlord we could possibly ...