Massachusetts retains Arden to liquidate rivals

Tue Jun 5, 2012

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The board of the $50 billion Massachusetts Pension Reserves Investment Management (PRIM) is keeping Arden Asset Management on board to liquidate its funds of hedge funds programme that dates back to 2004.

The temporary mandate is part of a major overhaul of the hedge fund portfolio and comes at a time when the hedge funds lost 2.73% in the calendar year of 2011. It is unknown how long the liquidation of $2.8 billion allocated among 175 underlying hedge fund investments will take, or what the fee structure will be for Arden during this process....

ISSN: 2151-1845 / CDC10004H

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