Arden Fund Management, LLC (Philadelphia)


Arden Fund Management, LLC is a large advisory firm based in Philadelphia. It manages $297.48 million of regulatory assets for 4 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Florida, Minnesota, New York, and Pennsylvania.

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Arden Fund Management provides portfolio management for pooled investment vehicles and management of private real estate funds. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Arden Fund Management: assets under management

The assets under management (AUM) of Arden Fund Management, LLC is $297.48 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 97% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.


The firm manages $297.48 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $74.37 million each.
Arden Fund Management has custody of $551.7 million in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Arden Fund Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Arden Fund Management serves?

The only and largest group of clients of Arden Fund Management is pooled investment vehicles with 4 clients and $297.48 million of assets under management. Among the 11 most similar advisory firms, Arden Fund Management has the 3rd highest percentage of pooled investment vehicles out of all clients.


The amount of regulatory assets under management is $297.48 million for 4 clients. None of the firm’s clients are foreign persons or businesses.

Arden Fund Management also advises several private funds. Namely, one real estate fund and three private equity funds. The minimum investment commitment required of non-related persons ranges from $250,000 to $500,000.

Careers at Arden Fund Management, LLC

The company employs 16 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Lp Aquarius Investments Managing member and 100% owner of member interests 1 May 2012 75% - 100% 23-2778795
Joseph Santo Caruso Chief compliance officer 1 Apr 2014 Other 6327666
Joseph S Caruso Chief compliance officer 1 Apr 2014 Other 6327666

Indirect Owners

The SEC currently registers 10 indirect owners.

Name Entity Date acquired Ownership Employer ID
Craig Allen Spencer General partner and 1% owner 1 Apr 1995 Other 6083807
Spencer Family Trust Limited partner and 99% owner 1 Apr 1995 75% - 100% 23-7777032
Albert Nipon Trustee 1 Apr 1995 Other 6388349
Pearl Nipon Trustee 1 Apr 1995 Other 6388354
Craig A Spencer General partner 1 Apr 1995 Other 6083807
Craig Anthony Spencer General partner and 1% owner 1 Apr 1995 Other 6083807
Andrew Mark Nipon Trustee 1 Jul 2015 Other 6914466
Laurence Michael Nipon Trustee 1 Jul 2015 Other 6914469
Andrew Nipon Trustee 1 Jul 2015 Other 6914466
Laurence Nipon Trustee 1 Jul 2015 Other 6914469

Based in Philadelphia

The principal office where Arden Fund Management, LLC performs its advisory services is located at 1600 Market Street, Philadelphia, PA 19103, which is also the mailing address of the firm. An additional office of the firm is in New York City, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-735-1313 or by fax 215-735-1123. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at philadelphiaresidences.com.