Saturday, 28 March 2015
Last updated 1 day 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.
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…