Fortress Execs. To Trim Stakes

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.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note