Reuters – The following corporate finance-related stories were reported by media on Friday:

* Fortress Investment Group, among the largest private equity and hedge fund firms, is looking to go on an acquisition drive, the Financial Times said, citing a memo passed to Fortress staff. [ID:nBNG147186]

* Spain’s Cosmen family and private equity group CVC have made a joint takeover approach for British bus and rail group National Express Group Plc, the Financial Times reported on Friday, citing people close to the situation. [ID:nLN409582]

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Tags: acquisition, british bus, corporate finance, cvc, financial times, fortress-investment-group, group plc, hedge fund, national express group, private equity group, rail group, reuters, spain, staff id, takeover approach

 Money Management- Despite tightening credit conditions, hedge funds are continuing to gain favour, with the latest Credit Suisse/Tremont Hedge Fund Index up 2 per cent in May.

The president of Credit Suisse Index Company, Oliver Schupp, said the index had been up in circumstances where hedge funds had continued to generate positive performance across strategies.

“We estimate that each of the 10 hedge fund sectors will end May with gains for the month, with long/short equity being the highest performing sector,” he said.

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Tags: banque-syz, dubai, ftse, point-management, regard, relocate, retail-sectors, spain, tremont-hedge-fund-index