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Fortress grabs D.B. Zwirn assets for a song

Posted on April 30, 2009 9:29 AM
New York alternative asset manager Fortress Investment Group is poised to take over the assets of D.B. Zwirn & Co., a moribund, $2.5 billion hedge fund manager, for free, said a source familiar with the matter.

Fortress, which manages $27 billion in private equity and hedge fund assets, reportedly was one of nine suitors for Zwirn, which is led by the 37-year-old, onetime hedge fund whiz Daniel Zwirn.

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