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CNBC – Fortress Investment Group LLC has named former Fannie Mae CEO Daniel H. Mudd as its new CEO, effective Aug. 11.
Mudd, a Fortress board member, takes over for co-founder and majority shareholder Wesley Edens. Edens will remain with the alternative asset manager as co-chairman, a title he will share with Peter L. Briger.
Fortress said late Sunday that the personnel change will allow Edens, along with Briger, Michael Novogratz, Robert Kauffman and Randal Nardone, to concentrate on managing existing investments and finding new investment opportunities. The four executives will continue to own about 70 percent of the company.
NY Post – Clarium Capital Management, the hedge fund founded by PayPal co-founder and Facebook board member Peter Thiel, fell another 4.4 percent in June, The New York Post reported on Wednesday.
The fund’s total returns are down 6 percent this year, the paper said, adding Clarium’s assets under management have plummeted to $1.9 billion from $7.8 billion a year ago.
Forbes – John Rutledge is the chairman of Rutledge Capital, a private equity investment firm that has invested more than $150 million in middle-market manufacturing, distribution and service companies. He is also member of the Advisory Boards of B.V. Group, a venture capital, hedge fund and real estate investment firm, and First Q Capital, a hedge fund.
Rutledge is a visiting professor at the Chinese Academy of Sciences and chief adviser for finance and investment to the governor of the Haidian District in Beijing. He is a board member of the Progress and Freedom Foundation, the Heartland Institute and a senior fellow at the Pacific Research Institute.
