Tuesday, 21 October 2014
Last updated 11 hours ago
Dec 8 2008 | 1:29am ET
If there’s one alternative investments firm that doesn’t need its name dragged through the mud right now, it’s Fortress Investment Group. But the New York firm, already facing huge redemption requests and a collapsing stock price, finds itself at the middle of the bizarre tale of the New York lawyer arrested in Toronto for allegedly impersonating another lawyer.
Marc Dreier was arrested last week, accused of pretending to be Michael Padfield, a lawyer for the Ontario Teachers’ Pension Plan. The alleged thespian turn by Dreier took place during a meeting between the OTPP and Fortress at the pension’s Toronto headquarters.
What the meeting dealt with, and why Dreier was there in the first place, remain unclear.
Dreier, the head and sole equity partner of the prominent Park Avenue law firm Dreier LLP, was released on bail on Thursday, after spending two days in jail. In the wake of his arrest, several members of the firm’s bankruptcy department resigned and founded their own firm.
A lawyer for Dreier told The Wall Street Journal that his client would plead not guilty.
“The event is relatively minor,” Edward Greenspan said. “No money passed. Nothing actually occurred except an allegation of impersonation.”
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...