Hedge Funds

Fortress to return cash to investors


Fortress Investment Group has reportedly said it will begin returning investor capital in its Drawbridge Global Macro fund, just weeks after the firm suspended redemptions.

Fortress is among a growing number of hedge fund firms that have suspended investor redemptions in recent months — a trend that has angered investors unable to access their cash. But in an unusual move, earlier this week the firm told investors it will pay out 73% of the redemption requests it has received, about $2.2 billion, at the end of January. The remainder of the fund’s portfolio, which is said to house less