Fortress to acquire 80 per cent stake in AIG subprime lender (Fund News)
American International Group Inc. (AIG) agreed to sell 80 per cent of its subprime-lending arm to Fortress Investment Group LLC (FIG), freeing itself from the unit's $17bn in debt as it works to repay the bail-out funds it received from the government.
Rabobank Pensioenfonds has removed more than $500m from the funds of hedge funds sector, saying it doubts their utility and dislikes their lack of transparency.
Private Equity accused of producing disappointing returns (Fund News)
A report on Monday accused Private Equity Groups of producing disappointing returns while charging their investors fat fees amid glaring conflicts of interest.