Briger and Novogratz prove that private equity firms can
run hedge funds
Asian experience. Made billions managing money for Goldman
Sachs and its clients. Backing from an established private
equity firm. Sounds like Dinakar Singh, who recently left
Goldman Sachs to join Texas Pacific Group to run a hedge fund?
Wrong. It is, in fact, Peter Briger and Michael Novogratz.
Both men joined private equity group Fortress Investment to launch the Drawbridge family of hedge
funds three years ago long before TPG, Carlyle and other
private equity giants decided to get into the hedge fund
business. As a result, their experience is very relevant to all
And it's a pretty good experience, as Fortress has already
joined the elite fraternity of funds with more than $5 billion
of assets and, remarkably, it managed to get there without
fanfare and with few in the industry knowing anything about the