Star trader is given $300m to stay at hedge fund Fortress

In what could be the biggest ever payday for a public company executive, Fortress Investment Group, the hedge fund manager which floated in New York last year, has given one of its star traders more than $300m (£157m) to stay at the firm.

Wall Street is agog at the revelation that Adam Levinson, 38, who runs one of the main funds for Fortress, has been handed a giant slug of new shares in the firm, giving him a stake of up to 7 per cent and diluting the power of existing shareholders.