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Arden Adds to Research Team

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NEW YORK (–Allan C. Brik joined Arden Asset Management Inc., a hedge funds of funds firm, as an executive director responsible for quantitative analytics.

The addition of Mr. Brik will enhance Arden’s existing investment program by augmenting its ability to analyze complex trading and hedging strategies, as well as individual positions at the hedge fund manager level.

Mr. Brik’s hiring is one of a number of recent hirings, all part of Arden’s ongoing expansion effort as the assets under management approach the US$2.5 billion mark. Earlier this month, the firm announced the addition of four senior executives. Stephen C. Cordy, Alexander Mucelli, S. Dov Lando and Sara Hedberg were hired and were mostly based in New York. All except for Ms. Hedberg who joined Arden’s London office handling research and client service in Europe Previous HedgeWorld Story.

According to Arden, Mr. Brik will incorporate quantitative inputs into the firm’s existing framework in four basic areas: manager sourcing and screening; due diligence; portfolio construction; and monitoring and risk management. Currently, the research department totals 13 professionals. In this new position, Mr. Brik will report to the investment committee, chaired by Arden’s President Averell H. Mortimer, and also will work with Henry P. Davis, managing director responsible for manager selection, due diligence and monitoring, and Stefan Zellmer, an executive director who oversees portfolio construction and risk-management activities.

Previously, Mr. Brik was the head of quantitative research and risk management for Synthesis Asset Management, a New York-based fund of funds. According to Arden, he was responsible for asset allocation for all quantitative arbitrage strategies and risk management at Synthesis.

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