« BEL Salutes: Ricardo Flores | Main | Passing of a Economics Giant: Milton Friedman »

November 10, 2006

Hedge Fund Group Issues Public Stock

From Today's NYT:

The Fortress Investment Group plans to raise as much as $750 million in what is set to be the first initial public offering by a United States hedge fund.

Investors will own 10 percent of Fortress after the offering, the company said yesterday in a regulatory filing. The sale values Fortress at up to $7.5 billion

Fortress, which oversees $26 billion, was founded as a private equity firm in 1998 by Wesley Edens, Robert Kauffman and Randal Nardone. It later expanded into hedge funds, real estate and debt. Its assets have more than doubled since March 2005.

LINK (registration req'd) to article

Form 3 Filing by Fortress

Posted by Becky at November 10, 2006 2:12 PM Posted to Business News | Investments/Finance