Fortis Bank hired LGT Capital Partners to create and manage a...

Fortis Bank hired LGT Capital Partners to create and manage a portfolio of private equity funds of funds for its general accounts, said Marc Moonens, Fortis executive director for funds of funds. Mr. Moonens said he wants to add some U.S. buyout funds to Fortis’ private equity holdings. He declined to specify how much Fortis already has in private equity investments or the size of the funds-of-funds portfolio LGT will develop, but noted the bank is increasing its holdings in the asset class to decrease risk.