Arden Asset Management is planning to acquire Robeco Group’s $1.3 billion hedge fund of funds (HFoF) business Robeco-Sage, Bloomberg reports. Financial terms of the deal, which will increase Arden’s assets under management to $8.5 billion, were not disclosed.
As per the deal, some executives of Robeco-Sage will also join Arden, including CIO Paul Platkin and Darren Wolf, who heads up research, adds Hedge Fund Net. The transaction is expected to be completed by October 1.
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