As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 17 hours ago
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.