Fortress Seeks Investments In Successful Sectors Health, Transport

Feb 1 2010 | 1:45pm ET

Fortress Investment Group did well in the fourth quarter, and is looking to build on that success by focusing on sectors where it already has big investments.

Founder Wesley Edens told the Columbia University Business School Private Equity and Venture Capital Conference that most of its 19 portfolio companies have had “top-line growth” over the past three or four months, Reuters reports. In particular, Edens said the private equity and hedge fund giant was pleased with its railroad and newspaper investments.

Edens added that New York-based Fortress, which boasts $32 billion in assets, is focused on finding new investments in the healthcare and transportation spaces.

The firm, which last year acquired credit hedge fund D.B. Zwirn & Co., said it also plans to avail itself of the consolidation pressure in the asset management industry.

“We have put ourselves in a position as a firm to take advantage of that,” he said.

Wesley Edens: Edens is chairman and CEO of Fortress Investment Group, the first US-based private equity/hedge fund to sell shares in the public markets.Wesley Edens: Edens is chairman and CEO of Fortress Investment Group, the first US-based private equity/hedge fund to sell shares in the public markets.

In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

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

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of