Monday, 30 March 2015
Last updated 2 days 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…