Fortress gives $300 million share grant to Adam Levinson
|August 10th, 2008||
|Fortress Investment Group has given a $300 million share grant to Adam Levinson, one of the company's star traders and Chief Investment Officer of the firm's $8.8 billion global macro hedge fund. Mr. Levinson also manages funds focusing on US equities. The package is meant to keep Mr. Levinson at Fortress despite a rough 18 months since the company went public when it lost two-thirds of its peak value.|
The share grant will make Mr. Levinson one of the six controlling shareholders, who together hold over $3 billion of company stock. Analysts disapprove of such a large compensation stating that share grants hurt existing shareholders by increasing the number of shares outstanding by 7%.
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