Deutsche Bank Interested In Fortis Admin. Unit

Sep 21 2009 | 11:37am ET

Deutsche Bank may not be interest in what ABN Amro is selling, but it certainly might be interested in what fellow Dutch bank Fortis Bank Nederland is putting on the block.

The German bank is interested in buying Fortis’ administration unit, Reuters reports. Deutsche Bank is hoping to become a major player in the hedge fund services business, while Fortis may seek to sell Fortis Prime Fund Solutions to appease the European regulators considering its plans to merge with ABN.

“Deutsche is definitely the front-running for FPFS and could probably get it for a very good price,” a source told Reuters.

The Fortis administation unit manages some US$200 billion.

News of Deutsche Bank’s interest in FPFS comes just a day after the bank pulled out of its deal to buy some of the assets of ABN, which was nationalized last year.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of