Thursday, 30 October 2014
Last updated 10 hours ago
Oct 5 2006 | 12:03pm ET
Embattled hedge fund Amaranth Advisors has retained Fortress Investment Group as a sub-advisor to the Amaranth multi-strategy funds. According to the firm, which lost an estimated $6 billion in bad natural gas trades, Fortress will assist the Amaranth team in selling off the funds’ investment assets in order to generate liquidity for investors.
Amaranth announced last Friday that its multi-strategy funds had suspended redemptions to allow for the sale of the firm’s investment assets.
Nick Maounis, Amaranth's chief executive officer, said in a statement that Amaranth will pay the fees associated with retaining the New York-based Fortress.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.