High-profile Canadian portfolio manager leaves mutual funds to set up Toronto office for US hedge fu

Date: Monday, March 28, 2005

CI Mutual Funds Inc. lost Ben Cheng to Fortress Investment Group, a New York-based hedge fund manager that recently opened a Toronto office.
At his former employer, Mr. Cheng was one of several portfolio managers who oversaw the CI Signature High Income fund. He was considered the $50-billion fund manager's in-house expert on income trusts.
Fortress was founded in 1998, and has $12-billion (U.S.) in assets under management.