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...
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