Wednesday, 27 May 2015
Last updated 50 min ago
Dec 10 2010 | 12:28am ET
Fortress Investment Group expects to have raised more than $5 billion by the end of this year, its CEO said yesterday.
Daniel Mudd said 2010 fundraising by the New York-based firm "should be over" $5 billion. The firm had raised $4.6 billion in new money by the first week in November.
Mudd credited Fortress' wider net for the success of its fundraising this year. He told the Goldman Sachs U.S. Financial Services Conference that it has expanded its client base from the U.S. and Europe to Japan and plans to do more fundraising in Asia and the Middle East in the future.
"Capital raising more broadly on a global basis will be a key priority doing forward," he said.
Despite the optimism, Mudd said the days of truly huge private equity funds might be over. Fortress' next fund is likely to be in the $1 billion to $3 billion range, he said, and not as high as $5 billion or $7 billion.
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…