Fortis Investment Management and Cadogan Management have agreed to merge their fund of hedge funds businesses. The combined entity, with $7.3 billion in assets, will keep the Cadogan name, with Fortis holding a 70% stake.

Cadogan’s management team—CEO Stuart Leaf, chief investment officer Paul Isaac and director of research Michael Waldron—will remain in place, with minority stakes in the business. The 42-member firm will be based in New York and have a London office.

“The involvement of Fortis Investments in our business considerably expands our ability to bring our current and future clients the performance, innovation, service and security they have grown to expect and enjoy,” Leaf said.