Fortress Announces Strategy to Buy Struggling Financial Companies
|July 27th, 2009||
|Under the guidance of new chief executive Daniel Mudd, Fortress Investment Group has announced plans for a new acquisition strategy that entails buying up poorly performing financial services companies including investment management firms, hedge funds and banks, according to the Financial Times.|
This strategy will see Fortress buying smaller rivals as well as acquiring the assets of funds that are winding down. The firm will specifically target hedge funds that were down last year and have been unable to rebound from those losses by this year’s end.
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