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Article: Arden Asset Management and J.P. Morgan Establish Hedge Fund of Funds Program.
- Article from:
- Business Wire
- Article date:
- June 25, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Arden to Manage $1.1 Billion Fund of Funds Portfolio for J.P. Morgan's Investment Bank; J.P. Morgan to Seed New Arden Funds
NEW YORK -- Arden Asset Management LLC, a leading independent fund of hedge funds manager, and J.P. Morgan (NYSE: JPM) today announced an agreement under which Arden will manage a $1.1 billion proprietary hedge fund of funds portfolio for J.P. Morgan's investment banking division, effective July 1, 2009. J.P. Morgan's investment bank has agreed to seed several new Arden funds and invest in one of Arden's current flagship funds with these assets.
As part of the agreement, a team led by Shakil Riaz, Chief Investment Officer of J.P. ...