Thursday, 31 July 2014
Last updated 27 min ago
Mar 13 2014 | 12:52pm ET
Fortress Investment Group’s top executives are taking advantage of strong returns for private-equity firms to cash in on some of their shares.
Four of the firm’s leaders, co-founder Wesley Eden and Randal Nardone and top executives Peter Briger and Michael Novogratz will sell about 10% of their Fortress shares in a public offering. The four are expected to collect about $215 million.
The sale is the first large one by Fortress insiders since the private-equity giant went public seven years ago. But it follows similar moves by top executives at Apollo Global Management and Carlyle Group.
Fortress is the only publicly-traded p.e. firm still trading below its initial public offering price. But its shares have soared nearly nine-fold over the past six years.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…