Profile: Fortress Investment Group LLC (FIG)
23 Sep 2016
Fortress Investment Group LLC (Fortress), incorporated on November 6, 2006, is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. The Company's business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (collectively, the Fortress Funds). Fortress makes investments in these funds. Fortress's primary sources of income from the Fortress Funds are management fees, incentive income and investment income on its investments in the funds.
The Company's private equity business manages approximately $15.8 billion of AUM. The segment consists of general buyout and sector-specific funds focused on control-oriented investments in cash flow generating assets and asset-based businesses in North America and Western Europe, and permanent capital vehicles, which includes publicly traded companies that are externally managed by Fortress pursuant to management agreements and a senior living property management business. It includes the entities, which Fortress collectively refers to as permanent capital vehicles, including Newcastle Investment Corp., New Residential Investment Corp., Eurocastle Investment Limited, New Media Investment Group Inc., New Senior Investment Group Inc. and and Fortress Transportation and Infrastructure Investors LLC, which are publicly traded companies that are externally managed by Fortress pursuant to management agreements (collectively referred to as the publicly traded permanent capital vehicles), and FHC Property Management LLC (together with its subsidiaries, referred to as Blue Harbor), a senior living property management business. The publicly traded permanent capital vehicles invest in a real estate related assets, including securities, loans, real estate properties and mortgage servicing related assets, media assets and transportation and infrastructure assets.
The credit funds business manages approximately $18.1 billion of AUM. The segment consists of hedge funds and private equity (PE) funds. The segment's hedge funds makes diversified investments in direct lending, corporate debt and securities, portfolios and orphaned assets, real estate and structured finance on a global basis and across the capital structure, with a value orientation, as well as non-Fortress originated funds for which Fortress has been retained as manager or co-manager as part of an advisory business. The segment's PE funds consists of a family of credit opportunities funds focused on investing in distressed and undervalued assets, a family of long dated value funds focused on investing in undervalued assets with limited current cash flows and long investment horizons, a family of real assets funds focused on investing in tangible and intangible assets in over four principal categories (real estate, capital assets, natural resources and intellectual property), a family of Asia funds, including Japan real estate funds and an Asian investor based global opportunities fund, and a family of real estate opportunities funds, as well as certain sector-specific funds.
Liquid hedge funds
The liquid hedge funds business manages approximately $5.4 billion of AUM, including over $4.5 billion of AUM relating to Graticule Asset Management Asia (Graticule) on the affiliated manager platform. Fortress also receives fees for providing infrastructure services (technology, back office, and related services) to Graticule. In addition, this segment includes an endowment style fund, which invests in Fortress Funds, funds managed by external managers and direct investments; a fund that primarily focuses on an international event driven investment strategy, particularly in Europe, Asia-Pacific and Latin America, and a fund that seeks to generate returns by executing a positively convex investment strategy.
The Logan Circle business manages approximately $31.2 billion of AUM. The segment includes Logan Circle Partners, L.P., which represents Fortress's asset management business providing institutional clients actively managed investment solutions across a range of fixed income and growth equity strategies. Logan Circle's core fixed income products cover the maturity and risk spectrums, including short, intermediate and long duration, core/core plus, investment grade credit, high yield and emerging market debt.
Fortress Investment Group LLC
1345 Avenue of the Americas Fl 4
NEW YORK NY 10105-0302
Company Web Links
- Sales top IPOs as private equity cashes out
- Fortress to shut Centaurus unit, continuing hedge fund reduction
- UPDATE 1-Fortress to shut Centaurus unit, continuing hedge fund reduction
- Fortress says it will shut Centaurus Global Funds
- BRIEF-Bay Pond Investors (Bermuda) reports 5.04 pct passive stake in Fortress Investment Group - SEC filing