Fortress Bestows $300 Million on Star Trader
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A star trader at Fortress Investment Group has received a hefty $300 million share grant from the publicly-traded hedge fund and private equity firm, according to The Wall Street Journal.
The move puts Adam Levinson, a 38-year-old trader who is also the chief investment officer of one the firm’s main funds, among the firm’s five other controlling shareholders, who together hold some $3 billion of company stock, The Journal said.
The Journal noted that Citigroup Inc. analyst Prashant Bhatia took a dim view of the share grant, saying in a research note Thursday that the move hurts existing shareholders by increasing the ...
