Hedge Fund Going Public

Fortress Investment Group plans to be the first hedge fund in U.S. history to IPO when they offer up 10% of the company. Right now Fortress is valued at $7.5 billion while actively managing over $26 billion. They plan to use the money to help raise new funds and take care of daily operations.

Lately, much has been made of the fact that hedge funds are highly undregulated. It is interesting that Fortress is willing to go public and expose some of their information to the public. Will this affect hedge funds in the future now that the shell is beginning to crack or will things continue on as normal in the hedge fund industry?