Fortress Investment Group related stories
All articles and analysis
Blackstone, Fortress chiefs criticise FDIC proposalsTony James and Wes Edens have each said during earnings calls this week that their firms are eager to do US bank deals, but warned proposed FDIC policies may deter investment.
- To list or not to list
Private equity-backed IPO filings and floats are on the rise, but that doesn’t mean public markets will necessarily take over as a preferred exit route.
- Two Fortress-backed companies reportedly in trouble
The publicly listed private equity firm is trying to keep afloat two of its portfolio companies, Gagfah, a German real estate company, and Intrawest, a ski resort company, that are both burdened by debt, according to media reports. Gagfah said the report was not true.
- Fortress-backed Intrawest sells two resorts
The Canadian ski slope company is selling lodging and commercial operations at Arc 1950 Resort in Savoie and Flaine Montsoleil Resort in the French Alps.
- Fortress aims to build €5bn Italian fund business
The US firm is teaming up with a subsidiary of Italian bank UniCredit in the hope of offering a range of real estate fund products in the country and amassing €5 billion of assets under management.
- Fortress, Centerbridge $6bn Penn National takeover collapses
Penn National will receive $225m in cash and $1.25bn in preferred shares after the Fortress and Centerbridge-led deal to buy the casino and race-track company was terminated. Penn said a ‘re-negotiated, reduced purchase price was not a viable option.’
- Fortress co-founder Edens relinquishes CEO role
Former Fannie Mae CEO Daniel Mudd will relieve Edens of day-to-day duties for the NYSE-listed private equity, real estate and hedge fund manager. It is part of a main board reshuffle aimed at enabling senior executives to focus more intently on the group’s existing and new investments.
- ASSET CLASS
The denominator effect is impacting limited partner portfolios and slowing the private equity fundraising market. Matt Levin asks whether it will result in changes to the LP-GP relationship.
- TUMBLING PIPES
Financial sector stocks have fallen, causing many to wonder whether a handful of high-profile private equity deals were ill-timed.
- Fortress exited Jackson investments
Fortress Investment Group, which bought more than $250m of Michael Jackson's debt in 2003, has no remaining investments related to the pop star, according to sources. Private equity had played a role in helping Jackson avoid bankruptcy in the past few years.