Reuters – Massachusetts’ pension fund has selected Arden Asset Management as its hedge fund investment adviser from a handful of applicants for the job of picking fund managers, tracking performance and providing due diligence, the company said on Tuesday.
The $58 billion pension fund’s investment committee tapped the New York-based money manager as the winner of its hedge fund advisory services bid, a spokesman for the pension fund said. The full board, which generally follows the investment committee’s recommendations, will vote on the choice on June 17.
