In what could be the biggest ever payday for a public company executive, Fortress Investment Group, the hedge fund manager which floated in New York last year, has given one of its star traders more than $300m (£157m) to stay at the firm, The Independent reports.
Wall Street is agog at the revelation that Adam Levinson, 38, who runs one of the main funds for Fortress, has been handed a giant slug of new shares in the firm, giving him a stake of up to 7% and diluting the power of existing shareholders. The award comes despite disappointing returns from his global macro fund so far this year, one of the hardest on record for the hedge fund industry. It also comes as Fortress shares languish at their all-time lows, having lost more than two-thirds of their value since they began trading in February 2007. But Mr Levinson has defended the award, sayi...
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