February 10, 2007
Fortress IPO a Hit on Wall St
The Fortresss IPO yesterday, described as one of the hottest IPOs in recent years, is the big news today. The private equity firm's shares were sold at $18.50, quickly rose to $35, and closed at $31. Wall St. expects more IPOs for private equity firms/hedge funds, as less wealthy investors look for ways to get a piece of the action. See WSJ, Hedge-Fund Crowd Sees More Green As Fortress Hits Jackpot With IPO and NYTimes, First Offering of a Hedge Fund Is Bid Up 67% on Opening Day.
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