Hedge Fund Hell: Fortress Under Siege

``Fortress' reputation and relatively decent performance allowed the firm to raise $3.1 billion in new capital, net of redemptions requested, for the year ended Dec. 31. It was also able to refinance nearly all of the $7.2 billion worth of debt that was to mature in 2007 and 2008 at an average cost of 6.5% -- a phenomenal feat for an alternative-asset manager with a plummeting share price, in the midst of an unprecedented credit crisis. ''