Briger foresees a great liquidation
By Britt Erica Tunick
Wed Nov 3, 2010
The Fortress co-chairman feels “like a kid in a candy store,” predicting he’ll reap immense profits buying distressed assets.
If you think the financial sector has stabilized since 2008,
think again. The market is poised to experience a wave of
liquidations among financial institutions unlike anything
before, according to Peter Briger, co-chairman and chief
investment officer of Fortress Investment Group.
"We’re going to see more financial asset
liquidation, more debtor creditor enforcement and more
creditor-to-creditor litigation over the next five years than
we’ve seen in the sum total of the last 100
years," Briger told attendees of the 2010 AR Symposium on
November 2. "There’s going...
ISSN: 2151-1845 / CDC10004H
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