Wesley Edens

Fortress First-Quarter Profit Rises 75% on Fee Income

Fortress Investment Group LLC, the first publicly traded private-equity and hedge-fund manager in the U.S., said first-quarter profit rose 75 percent because of higher fees paid to the firm for managing its funds.

Edens of Fortress Says Newcastle is Close to ‘Large’ Deal

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.

HSBC Sells U.S. Consumer, Homeowner Debt for $3.2 Billion

HSBC Holdings Plc, Europe’s biggest bank by assets, agreed to sell a portfolio of U.S. consumer loans for $3.2 billion in cash as it scales back its operations in the country.

Fortress Profit Falls 45% on Decline in Hedge-Fund Fees

Fortress Investment Group LLC, the asset manager run by Dan Mudd, said third-quarter profit fell 45 percent as hedge-fund fees declined and it earned less on private-equity deals.

Private Equity Loses Fund Commitments as Tony James Woos Oregon

A year after the financial crisis subsided, the $2.5 trillion private-equity industry is finding the easy money may be gone.

Fortress CEO Mudd Takes Leave Amid SEC’s Fannie Mae Lawsuit

Daniel Mudd will take a leave of absence as chief executive officer of Fortress Investment Group LLC after he was sued by the U.S. Securities and Exchange Commission over his role as former CEO of Fannie Mae.

AIG Sells Lender American General to Fortress at a Loss

American International Group Inc. agreed to sell a majority stake in its consumer lender to Fortress Investment Group LLC , getting rid of a unit that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in debt.

Fortress's First-Quarter Profit Rises to $96 Million, Beating Estimates

Fortress Investment Group LLC , the buyout and hedge-fund firm co-founded by Wesley Edens , reported a first-quarter profit that beat analyst estimates.

Mortgage Investors With $500 Billion Urge End of Practices, Lawyer Says

Investors owning about a third of U.S. mortgage securities without government backing are urging bond trustees to help end practices that damage their holdings, according to Dallas lawyer Talcott Franklin .

Fortress CEO Mudd Takes Leave Amid SEC’s Fannie Mae Lawsuit

Daniel Mudd will take a leave of absence as chief executive officer of Fortress Investment Group LLC after he was sued by the U.S. Securities and Exchange Commission over his role as former CEO of Fannie Mae.

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S&P 500 Slips From Record as Yen Rebounds; Gold Advances

U.S. Stocks Decline as Investors Weigh Stimulus Timing

Yen Jumps Most in Three Weeks on Government Concern; Rand Slides

Natural Gas Climbs to Three-Week High on Outlook for Hot Weather

Tumblr’s 26-Year-Old CEO Cashes In on $1.1 Billion Deal