Friday, 29 August 2014
Last updated 3 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...