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Arden wins Massachusetts pension fund's hedge fund mandate
May 20, 2014 / 4:02 PM / 4 years ago

Arden wins Massachusetts pension fund's hedge fund mandate

BOSTON, May 20 (Reuters) - Arden Asset Management will help Massachusetts’ state pension fund invest in hedge funds by selecting managers, monitoring their performance and providing due diligence, two sources familiar with the matter said on Tuesday.

New York-based Arden has won the $5.2 billion mandate to provide hedge fund advisory services for the $58 billion pension fund, which already invests with prominent funds like William Ackman’s Pershing Square Capital Management, Dan Och’s Och-Ziff Capital Management.

The pension fund issued a request for proposals in January and Arden was selected at the fund’s investment committee meeting on Tuesday, the two sources said.

Reporting by Svea Herbst-Bayliss, editing by Richard Valdmanis

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