New York, June 2, 2011 ‐ Arden Asset Management LLC (“Arden”), a leading independent fund
of hedge funds manager, and Robeco Group (“Robeco”) today announced an agreement under which
Robeco will transfer to Arden its $1.3 billion fund of hedge funds business, Robeco‐Sage, effective
October 1, 2011. Given the complementary nature of the Robeco‐Sage business to Arden, coupled with
the large overlap in underlying managers used by both firms, this transaction provides Arden with
increased scale and a strong foundation for future growth.

Averell Mortimer, Arden’s President and Chief Executive Officer, said, “We are very excited
about this transaction and look forward to continuing to serve our combined investor base with a broad
range of institutional multi‐manager hedge fund portfolios as we strategically expand our business.”

Roderick Munsters, Chief Executive Officer of Robeco Group, said, “This agreement brings
together two of the industry’s most respected and longest tenured firms with 35 years of combined
experience. We believe this transaction provides significant benefits to our investors through increased
resources, including investment talent, leading edge technology, and infrastructure. We remain
committed to the fund of funds business and intend to retain our substantial investments in the Sage
funds.”

Under the terms of the agreement, certain of Robeco‐Sage’s investment, client service and
operations professionals will join Arden. Paul Platkin, Chief Investment Officer, and Darren Wolf, Head
of Research, will join the Arden investment team and will continue to manage the Robeco‐Sage
portfolios on a day‐to‐day basis with oversight from the Arden Investment Committee. Arden’s existing
funds and customized portfolios will continue to be managed in exactly the same manner as previously
had been the case by Arden’s Investment Committee.

Henry Davis, Managing Director and Member of Arden’s Investment Committee, added, “The
integration of Robeco‐Sage’s portfolio resources and team provides greater depth of industry
knowledge, further enhancing Arden’s investment capabilities and information advantage for the benefit
of all investors.”

Ronald Tauber, co‐founder of Robeco‐Sage, said, “Arden is a highly respected franchise with a
strong, scalable multi‐manager platform and world‐class infrastructure. Arden has a proven track
record of successfully integrating hedge fund of funds programs and their investors into their business.
We expect our clients to benefit from Arden’s skills and 17 years of experience managing absolute return
programs across all market cycles.”

About Arden

Founded in 1993, Arden is a leading independent global fund of hedge funds investment management company with approximately $7.2 billion under management and offices in New York and London. Arden’s institutional and individual investors include taxable and non-taxable clients from the United States, Canada, South America, the United Kingdom Europe, Australia, Japan and Asia ex-Japan.

About Robeco

Robeco, established in Rotterdam in 1929, offers investment products and services to institutional and private investors worldwide. It has approximately $201 billion in assets under management as of December 31, 2010. The product range encompasses equity and fixed-income investments, money-market funds, responsible investing and alternative investments, including private equity, hedge funds and structured products. The various strategies are managed from Rotterdam (head office), Boston, Hong Kong, New York, Paris and Zurich.