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

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of