Tuesday, 31 March 2015
Last updated 2 hours ago
Dec 4 2008 | 12:03am ET
Embattled Fortress Investment Group is pulling up the Drawbridge as it continues to be inundated with redemption requests.
In a Securities and Exchange Commission filing, the publicly-listed hedge fund manager said it had suspended redemptions from its Drawbridge Global Macro Fund and its feeder funds.
The fund, which managed some $8 billion on Sept. 30, has received $3.51 billion in withdrawal notices for its Nov. 30 and Dec. 31 redemption dates. But the firm estimates the fund will have just $3.65 billion on Jan. 1, although the withdrawal bar will cover both the November and December redemption dates.
Fortress did not say how long the suspension would remain in place. Drawbridge is down about 12% this year.
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…