Hedge Funds

Fortress mulls IPO move

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Fortress Investment Group is considering an initial public offering that would value the global investment firm at somewhere between $5 billion and $7 billion, a source inside the company confirmed.

The possible deal, which was first reported in The New York Times, would provide a stark contrast to the vast majority of hedge fund firms which prefer to operate as privately as possible. The insider stressed that a final decision is still very much up in the air.

Fortress manages a total of $23.4 billion in assets, including $9 billion in hedge fund assets and $11.1 billion in private