Belgo-Dutch bank Fortis has sold its $4.3bn (â¬2.7bn) London-based hedge fund of funds business in a management buyout backed by Sir Ronald Cohen that concludes a strategic review of the bankâÂÂs funds unit and ABN Amro Asset Management, which it acquired last year.
Fortis has sold International Asset Management in a deal backed by Cohen, co-founder of private equity firm Apax Partners, and US investment bank Jefferies.
