The initial public offering of Fortress Investments still has Wall Street talking. It's fair to say that other hedge fund firms may want to think about this. Another source of capital would always be welcome, and you can bet the likes of Goldman Sachs and Lehman Brothers, which underwrote the Fortress offering to such terrific results, will be doing a lot of marketing. One expert predicts that up to 20 more hedge funds could sell initial shares over the next two years. Of course, Fortress will now have to live with Sarbanes-Oxley, Reg FD and a host of other issues. But they have obviously made the decision that the costs are outweighed. It will be interesting to see just how much information is disclosed about specific funds. It may be that investors will still end up clamoring for more info. In any case, this is exciting path-breaking stuff.

For more:
- here's an update from the AP