Thursday, 26 November 2015
Last updated 22 hours ago
Mar 25 2010 | 1:32pm ET
Two executives of Fortress Investment Group’s troubled flagship hedge funds have left the New York-based alternative investments giant.
Both the chief operating officer and chief financial officer of the Drawbridge Global Macro Fund are out, Bloomberg News reports. The Drawbridge funds were battered by outflows last year, falling to just $1.43 billion, down 77% from the end of 2008.
Scott Lawin, who had been COO of the Drawbridge funds, left the firm in January for Moore Capital Management, where he is also the COO. Lawin worked for five years at Fortress.
The funds’ CFO, Kevin Treacy, departed two weeks ago. It is unclear what Treacy’s plans are, but Fortress quickly replaced him with Patrick Dennis, a veteran of hedge funds Raptor Capital Management and Eton Park Capital Management.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…