Hedge Funds

Fortress spins out global macro

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Fortress Investment Group, the $4 billion private equity firm, is getting ready to spin off a portion of a global macro fund the firm has been running for the past year and a half. The part that may spin out is the quantitative portion of Drawbridge Global Macro, which has done so well performance wise that the firm is looking to create a new fund under the Drawbridge series that it would be able to open up to external managers once the fund has an established track record. The quantitative portion of the fund, which is managed by