Fortress eyes beleagured music firm
Hedge fund Fortress Investment Group LLC of New York may be joining the pack of buyout firms targeting London-based music firm EMI Group PLC, reported the Sunday Telegraph.
Hedge fund Fortress Investment Group LLC of New York may be joining the pack of buyout firms targeting London-based music firm EMI Group PLC, reported the Sunday Telegraph.
Fortress, the first U.S. hedge fund to go public, is believed to be examining a possible deal but hasn’t made any final decisions about mounting a bid for the reeling music company.
EMI, home to Madonna and Robbie Williams, has received two profit warnings in the space of six weeks.
The hedge fund joins Warner Music Group and One Equity Partners LLC, a private equity firm linked to JPMorgan Chase & Co., in the pool of companies interested in EMI.
All are based in New York.
Fortress raised $635 million in a New York listing earlier this month and has since seen its price share soar.
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