Amaranth Retains Fortress Investment To Sell Assets

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.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of