Davis Polk & Wardwell LLP advised J.P. Morgan’s investment banking division on its agreement with Arden Asset Management under which Arden will manage a $1.1 billion proprietary fund of funds portfolio for J.P. Morgan’s investment banking division. J.P. Morgan’s investment bank agreed to seed several new Arden funds and invest in one of Arden’s current flagship funds with these assets.

J.P. Morgan is the investment banking arm of JPMorgan Chase & Co., a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. Arden Asset Management LLC is a leading global fund of funds investment management company with offices in New York, London, Zurich and Bahrain.

The Davis Polk investment management team included partner Leor Landa and associate Aaron Schlaphoff. The M&A team included partner Michael Davis and associate Johannes Wirtz. The tax team included partner Mary Conway and associate Michael Bretholz. Partner Edmond T. FitzGerald provided employee benefits advice and partner Arthur S. Long provided bank regulatory advice. All members of the Davis Polk team are based in the New York office.