Friday, 22 August 2014
Last updated 4 hours 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the 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. Read more…
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 Editor's Note