Reuters – Rumours of an acquisition spree by Fortress Investment Group are greatly exaggerated and may disappoint investors who jumped into the stock during the past week.
The private equity and hedge fund giant last week named director and former Fannie Mae Chief Executive Daniel Mudd as its new CEO. The move frees co-founder Wesley Edens and his partners to focus on buying assets and companies made cheap by what he calls the "Great Deleveraging" of the past year.
Last week, the Financial Times reported Edens told employees during a meeting that Mudd would spearhead the firm’s acquisition efforts.
