Joseph Baratta, who runs the private- equity business of Blackstone Group LP, said the stock market rally that helped firms exit investments may last two more years, as long as the Federal Reserve provides support.
Wally Weitz, the mutual-fund manager who beat 90 percent of rivals in the past five years by buying stocks he deemed cheap, says bargains are so scarce these days that he’s letting his cash holdings swell.
Newcastle Investment Corp., the mortgage-asset buyer run by Fortress Investment Group LLC, is “very optimistic” it will participate in a big investment in mortgage-servicing rights with other entities its manager oversees, Chairman Wesley Edens said.
Fortress Investment Group LLC plans to create a newspaper and website company, New Media, through the bankruptcy of its GateHouse Media Inc. and the recently purchased assets of Newcastle Investment Corp.
Private-equity managers from Fortress Investment Group LLC to Blackstone Group LP, which made billions by buying low and selling high, say now is the time to exit investments as stocks rally and interest rates start to rise.
GateHouse Media Inc., the community newspaper publisher overseen by the co-chairman of Fortress Investment Group LLC, filed for bankruptcy after creditors approved a plan to combine its assets with those recently purchased by Newcastle Investment Corp.
Fortress Investment Group LLC plans to seek $1 billion for a global infrastructure fund, building on similar investments made by its private-equity pools, two people with knowledge of the situation said.
As Friday night turns to Saturday morning in Singapore, Adam Levinson regularly stays up drinking Red Bull until 4 a.m., waiting for U.S. jobs data and the close of the trading week halfway around the world in New York.