Fortress Announces Strategy to Buy Struggling Financial Companies

July 27th, 2009
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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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Fortress Investment Group
Related People: Daniel Mudd; Jude Driscoll; Michael E. Novogratz; Randal Nardone; Robert Kauffman*; Wesley Edens; William F. Callanan
Related Entities: Drawbridge Global Macro Funds; Fortress Commodities Fund LP; Fortress Partners Funds; Fortress Value Recovery Funds ; Logan Circle Partners; Newcastle Investment Corp
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions


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