Fortress’ Lawin, Treacy Out, Ex-Raptor Dennis In

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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...