Fund of Hedge Funds Mergers & Acquisitions / Joint Ventures

Cadogan buys back independence from Fortis

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Cadogan Management, which was founded by Stuart Leaf, has opted to go solo once again. Senior executives at Cadogan, which has $3.6 billion, completed the repurchase from Fortis Investment Management USA.

Fortis, which is now majority owned by BNP Paribas, allowed Cadogan to buy back ownership of the firm. Leaf will become executive chairman, running the firm's management committee, and will also remain on all his existing investment committees as well increasing his time spent on manager research and portfolio management.

John Trammell will be chief executive officer, running the business on a day-to-day basis, while Hirsh Aronowitz, who