Fortress Said to Plan Closing Macro Fund Run by Novogratz
Michael Novogratz, principal at Fortress Investment Group LLC.
Photographer: Jacob Kepler/BloombergThis article is for subscribers only.
Fortress Investment Group LLC plans to liquidate its macro business run by Michael Novogratz after two years of losses, according to a person with knowledge of the firm.
The firm intends to inform investors about the move in the coming days, said the person, who asked not to be identified because the information is private. Novogratz is expected to leave the firm by the end of the year.