|Fortress Investment Group (NYSE: FIG.N), a global hedge fund and asset management firm, has benefitted from the recent increase in demand for alternative assets and is beginning to raise money for new funds. According to an article from Reuters, investors have exhibited an increased appetite for hedge and real estate funds, particularly those specializing in global macro and distressed debt strategies. |
Fortress is now marketing new distressed debt portfolios to potential investors, hoping to continue the improved performance the firm has seen this year.
Fortress Investment Group was founded in 1998 by BlackRock veterans Wesley Edens, Robert Kauffman and Randal Nardone. In February 2007, Fortress became one of the first publicly-traded U.S. hedge funds. In August 2009, former Fannie Mae CEO Daniel Mudd became the new CEO at Fortress with the goal of driving the firm’s global growth strategy.