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Hedge fund firm Cadogan inks spin off from Fortis

Reuters – Hedge fund group Cadogan Management LLC has signed a deal to spin off from Fortis Bank, taking a step that investors expect will attract new assets because it eases uncertainty about the firm’s future.

New York-based Cadogan will be fully owned by its employees after the deal closes, the company said. Five top executives, who left the firm a few weeks ago, have returned to the firm.

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