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NY Hedge Fund Wins $150M Mandate from Pension Fund

Jan 24, 2013
Jing Chen

Hedge fund firm Arden Asset Management has won a $150 mandate from the Pennsylvania State Employee Retirement System.

Reuters reported that New York-based Arden will be responsible for helping the $26 billion state pension fund “construct a multi-manager equity event program that is designed to deliver equity-like returns but with the benefits of being more diversified.”

The article also said that Arden also manages money for New Jersey and helped mutual fund giant Fidelity Investment launch a program that will allow its retail customers access to hedge fund investments through a mutual fund.

Arden has approximately $7 billion in assets under management.

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