Independent fund of hedge funds manager Arden Asset Management, has selected HedgeMark Risk Analytics LLC, a division of HedgeMark International LLC, to provide position level risk reporting and data aggregation. Arden made its decision following an extensive review of industry risk specialists.
HedgeMark Risk Analytics is jointly led by Andrew Lapkin and Tom Brown (pictured). Lapkin is a globally recognised pioneer in hedge fund risk management, and came to HedgeMark more than a year ago from Measurisk, a firm he co-founded in 1998. Brown, a founding member of HedgeMark, joined in 2009 from Nuveen. Prior to Nuveen, he led the risk analytics technology team at Wilshire Associates.
In addition to the selection of HedgeMark Risk, Arden has also entered into a Letter of Intent to utilise the HedgeMark Managed Funds and Managed Account platforms for customised client solutions and specific client mandates. The HedgeMark managed funds platform provides many valuable features including daily risk reporting and data aggregation, as well as a comprehensive range of fully integrated fiduciary services.
Averell Mortimer, Founder and CEO of Arden, says: "We have been following HedgeMark's entry into the marketplace over the past two years and have been very impressed with the company's commitment to innovative technology applications and client service. Knowing that Andrew Lapkin is co-leading the risk team made our decision that much easier. As customised accounts and bespoke mandates become increasingly important to our clients, the ability to seamlessly integrate our investment and risk management strategies with daily, position level reporting, will significantly enhance the range of services and capabilities we can offer those investors."
"Arden is a globally recognised leader in the world of alternative investment management, with a long-standing commitment to risk management and best practices," says Kenneth Phillips, Founder and CEO of HedgeMark. "We are extremely pleased with this vote of confidence in the technology, people and related capabilities offered by HedgeMark. This decision further validates our value proposition as both a risk analytics company and sponsor of managed funds and segregated accounts."
HedgeMark was founded in 2009 and is an affiliate of The Bank of New York Mellon Corporation (BNY Mellon). HedgeMark is the registered trademark of HedgeMark International LLC.