Tuesday, 26 May 2015
Last updated 1 min ago
Nov 6 2013 | 2:18pm ET
Fortress Investment Group's top Asia trader is mulling a spin-off from the alternative investments giant.
Adam Levinson, chief investment officer of Fortress' US$1.8 billion Asia Macro Fund, is in talks with the New York-based firm about the split, Bloomberg News reports. The spin-off, if it occurs, might not come until early 2015, and would enjoy Fortress' support.
Fortress would seed the new operation—a first for the US$58 billion firm—and would likely own a stake. Fortress might also provide back-office and research services to Levinson's shop.
No decision has been made about a spin-off, according to Bloomberg.
Levinson's fund is up 13% this year and returned 21% last year, its second in operation. Levinson, co-chief investment officer of Fortress' global macro strategies, launched the fund after moving to Singapore in 2011.
Levinson has worked at Fortress since 2002. Prior to joining the firm, he worked at Tudor Investment Corp. and Goldman Sachs.
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…