|Fortress Investment Group has plans to open a new office in San Francisco, and Peter Briger, co-chairman of the firm and the head of its credit unit, will move to open it. Mr. Briger’s credit team, which currently oversees $11.6 billion in assets, and a number of other Fortress traders will follow him to the new office, according to Bloomberg. San Francisco will be Fortress’s second west coast office after Los Angeles, and the firm cited the growing importance of Asia in the credit market as the motivation behind the move. |
Fortress Investment Group (NYSE: FIG) is a global alternative investment and asset management firm founded in 1998 by Wesley Edens, Robert Kauffman and Randal Nardone. The firm manages private equity funds, hedge funds, and publicly traded alternative investment vehicles. Before joining Fortress Investment in 2002 Peter Briger spent 15 years at Goldman Sachs, eventually co-heading its Asian distressed-debt business.