US hedge fund group Cadogan Management has signed a deal to spin off from Fortis Bank, in a step that investors hope will attract new assets, reports Reuters. Cadogan will be fully owned by its employees after the deal closes, the company said. Five top executives, who left a few weeks ago, have returned to the firm. Cadogan was part of Fortis’ money management arm. Fortis will come under BNP Paribas’ control later this year when the French bank is expected to complete its acquisition of Fortis.

This entry was posted by Gwen Robinson on Tuesday, October 27th, 2009 at 4:39 and is filed under Capital markets, Hedge funds, M&A. Tagged with bnp paribas, Cadogan. Edit this entry.