Wednesday, 27 August 2014
Last updated 10 hours ago
Feb 17 2010 | 2:11am ET
Alternative investments giant Fortress Investment Group is getting even bigger. The New York-based firm is acquiring a Philadelphia fixed-income asset manager as it seeks to expand into the traditional money management business.
Fortress will buy Logan Circle Partners, which manages $12 billion in bond funds, for about $21 million in cash. The deal will boost Fortress’ assets under management, which currently stand at $32 billion, by more than one-third.
Current Logan Circle owners Guggenheim Partners will receive an additional payment dependent on the firm’s growth and performance at the end of next year.
Logan Circle is headed by Jude Driscoll, formerly CEO of Delaware Investments, who founded the firm in 2007. Driscoll and the rest of Logan Circle’s leadership team have agreed to remain with the firm; Driscoll will report to Fortress CEO Daniel Mudd when the deal closes.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...