Massachusetts retains Arden to liquidate rivals
Tue Jun 5, 2012
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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