Results tagged “Fortress” from Dealbreaker
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Movement From The Fixed Fortifications
Feb 19, 2009, 2:57pm
Posted by Equity Private
Can it be? Could they pull it out of the fire? Fortress blocked redemptions from its flagship Drawbridge Global Macro Fund in December, telling investors at the time that they would get 72% of their requested withdrawals by April. But...
Patton Could Have Told You
Jan 30, 2009, 11:24am
Posted by Equity Private
Don't say we didn't warn you. Fortress has given a nice little 96% bath to investors in its IPO and has blocked redemptions. Two years after commissioning the ski lift, Edens, 47, finds himself staring into an abyss of a...
Would You Give $50 Million To This Man?
Dec 08, 2008, 1:44pm
Posted by Equity Private
What do you do when maintaining the artifice of your series of fraudulent transactions is threatened by the credit crunch? Why, impersonate a pension fund lawyer and get $50 million from Fortress, of course. According to people familiar with the...
Have Fun Storming The Castle Citadel Fortress
Dec 03, 2008, 2:02pm
Posted by Equity Private
Continuing the theme that funds named for fixed emplacements are dangerous investments (we think the marketing types are over-compensating for their poor risk-mitigation expertise) Fortress Investment Group, LLC has frozen withdrawals from their largest fund. The $8 billion fund is...
What's In A Name?
Nov 13, 2008, 12:50pm
Posted by Equity Private
Our advice: Avoid investing in funds named for secure buildings or edifices that are expected to resist attacks from barbarian hordes, throngs of Mongolian horsemen that blot out the rolling hills, or otherwise protect the occupants (like your cash) from...
Fortress Makes Sure Someone's Doing Better Than Cheeseball Rockstars
Posted in Bonuses, Lawrence Lewitinn, Portfolio, Private Equity, Aug 11, 2008, 11:05am
Posted by Dealbreaker
How's your PnL looking so far this year? Happy your long dollar position is starting to look good? Or are you annoying your b-school alumni affairs office asking them to post more jobs for experienced grads (Hey, Columbia, are you...
In Fairness, It Does Mock 'Sex And The City,' A Redeeming Factor Not To Be Discounted
Aug 07, 2008, 1:54pm
Posted by Bess Levin
There's an old saying in the alternative-asset management game--when your business is down, the best way to get up is to finance a movie that makes Norbit look good. And if it makes Ed, the film starring Matthew LeBlanc and...
Fortress: How Dare You Denigrate Our Losses By Calling Them Losses
May 13, 2008, 4:55pm
Posted by Bess Levin
“I think that the use of the word loss in this case is pejorative and actually not at all accurate,” sniffed [Fortress CEO Wes] Edens to Rashad Fonti, analyst from Citigroup, when the matter of FIG’s public portfolio holdings falling...
