Fortress Investment Group this week became the first U.S.
hedge fund and private equity manager to offer shares in its
management company to the public.
In a deal that was widely anticipated, Fortress sold 8.6% of
its shares to the public at $18.50 per share, the high end of
its expected price range of $16.50 to $18.50. The offering was
oversubscribed by 25 times....