Two Fortress executives resign after macro fund loss, Reuters says Chief Risk Officer Sherif Sweillam and portfolio manager Tye Schlegelmilch resigned from Fortress Investment Group this month after the Swiss Franc uncapping brought a 7.64% loss to the firm's $3.1B macro fund, reports Reuters, citing three sources familiar with the matter. Global head of trading Timothy Durnan will replace Sweillam. COMAC Capital and Everest Capital also saw heavy losses in macro funds. Reference Link
Fortress downgraded at Oppenheimer As noted earlier, Oppenheimer downgraded Fortress to Perform from Outperform. The firm downgraded the stock based on the weaker than expected performance of the company's private equity and liquid hedge fund businesses.