The $8 billion firm, which launched three funds of funds with seed money from JPMorgan, is now marketing its funds for the first time.
Arden Asset Management, which has $8 billion under management, has opened three of its new funds of funds to outside investors for the first time. Shakil Riaz, former chief investment officer of JPMorgan’s internal funds of funds, joined Arden last July to oversee the Arden PropPartners Diversified Fund, Arden PropPartners Global Macro Fund and Arden PropPartners Long/Short Fund, all of which launched in October 2009 with seed money from JPMorgan.
In June 2009, Arden and JPMorgan signed a deal in which Arden would manage $1.1 billion for JPMorgan’s investment banking division. Most of the money was invested in Riaz’s