Losses swelled in the fourth quarter at Fortress Investment Group, the first private equity and hedge fund firm to list just over two years ago, on writedowns in its private equity funds.
Centaurus Capital is launching a new merger arbitrage fund, following the decision to accelerate the closure of its flagship Alpha fund, which once managed $4.5bn.
Switzerland agreed on Friday to relax its strict bank secrecy rules and co-operate more on tax evasion in a last-ditch attempt to fend off a global crackdown on tax havens that is rattling the offshore banking industry.