Arden Asset Management is to assume the management of Robeco Group's USD1.3 billion fund of hedge funds business, Robeco-Sage, effective 1 October, 2011.
Averell Mortimer, Arden’s President and Chief Executive Officer, says: “We are very excited about this transaction and look forward to continuing to serve our combined investor base with a broad range of institutional multi-manager hedge fund portfolios as we strategically expand our business.”
Under the terms of the agreement, certain of Robeco-Sage’s investment, client service and operations professionals will join Arden. Paul Platkin, Chief Investment Officer, and Darren Wolf, Head of Research, will join the Arden investment team and will continue to manage the Robeco-Sage portfolios on a day-to-day basis with oversight from the Arden Investment Committee. Arden’s existing funds and customised portfolios will continue to be managed in exactly the same manner as previously had been the case by Arden’s Investment Committee.
Roderick Munsters (pictured), Chief Executive Officer of Robeco Group, says: “This agreement brings together two of the industry’s most respected and longest tenured firms with 35 years of combined experience. We believe this transaction provides significant benefits to our investors through increased resources, including investment talent, leading edge technology, and infrastructure. We remain committed to the fund of funds business and intend to retain our substantial investments in the Sage funds.”