Tuesday, July 14, 2009

Fortress on Both Sides of Talks

A specialty of Wall Street:

Multipronged Fortress

The Issue: Fortress is both an equity investor in and lender to real-estate
and railroads firm Florida East Coast Industries Inc.

The Conflict: The company is trying to restructure a $1.5 billion loan,
pitting the interests of Fortress clients against one another.

The Future: Private-equity firms are facing new conflicts as they buy up
the debt of companies they own.

This forms invests in and lends to

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