New York (HedgeCo.net) – In yesterday’s HedgeCo newsletter we featured a story about Fortress Investment Group liquidating a business unit. In Tuesday’s news, there were articles discussing key personnel departures as well as an article discussing the amount of assets leaving the firm.

The New York Post featured and article regarding the assets leaving the flagship Fortress Macro fund. The fund is down approximately 15% on the year and assets are down to $1.6 billion presently after being as high as $7 billion in 2008. The post article went on to state that more investors are planning to leave and the assets are headed to another Asia-focused fund run by Adam Levinson, a former partner of Michael Novogratz at Fortress.

With regard to employees leaving, an article from Reuters stated that managing directors David Markus and Maggie Arvedlund are leaving the company with the expectations that the Partners Fund they helped run is likely to be phased out. Stuart Bohart, the co-chief investment officer of the Partners Fund left earlier in September.

Rick Pendergraft
Research Analyst
HedgeCoVest