Hedge Funds

Kauffman bails out Nascar racer

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You may know that Robert Kauffman of Fortress Management is an extreme Nascar enthusiast. Kauffman took one step closer to the driver’s seat when he recently bailed out financially strapped professional racer Michael Waltrip. The pro had hit the wall, financially speaking, after allegations that he had used a prohibited fuel additive caused him to lose his sponsor, Toyota. Kauffman then offered a 50-50 financial partnership with “Team Waltrip,” allowing the racer to stay behind the wheel for the February Daytona 500 contest.