Fortress Investment Group LLC

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Key Facts

Founded1998
TickerFIG
Websitehttp://www.fortress.com
HeadquartersNew York
Other OfficesDallas, Los Angeles, Frankfurt, Geneva, Rome, Hong Kong, San Diego, Japan, San Francisco, London, Sydney, Toronto
Employees1082
AUM$56.9 billion
AUM as ofDecember 6, 2017
StrategiesMacro, Multi Strategy
Clients255

Overview

Fortress Investment Group LLC is a hedge fund based in New York with offices in Dallas, Los Angeles, Frankfurt, Geneva, Rome, Hong Kong, San Diego, Japan, San Francisco, London, Sydney, Toronto. It was founded in 1998 by Wesley Edens. They hold $56.9 billion in assets under management as of December 6, 2017. Read their Plain English Brochure. Michael Novogratz is President (former Goldman Sachs trader)

In December 2008, investors asked for $3.5 billion to be returned from the $8 billion Drawbridge Global Macro fund.http://www.bloomberg.com/apps/news?pid=20601109&sid=a7rJVe6G62rA&refer=home. They were told they could get back 70% now, and the rest over the next 18 months.

$32 billion under management as of 10/2008
$40 billion under management as of 1/2008 http://www.ft.com/cms/s/0/f1451a74-ce0b-11dc-9e4e-000077b07658.html
$30 billion under management as of 1/2007

20th largest hedge fund in Institutional Investor's 2008 Hedge Fund 100, up from 33rd in 2007http://www.iimagazine.com/Rankings/rankingsHeFu100RGlobal08.aspx?LS=EMS204396

* Drawbridge Special Opportunities Fund
Asset based transactions, loans, and corporate securities

* Fortress Partners Fund
Similar strategy to a university endowment

* Drawbridge Global Macro Fund
Multi Strategy, investments focus on preservation of capital

Sub Funds and Performance

NameAUM (bn) Type Min Investment Num Clients Internal $ % Fund of Funds $ % Prime Brokers
Alesco Preferred Funding XVII, Ltd 0 securitized asset fund 0
Dbgm Onshore LP 0.001 hedge fund 0 92 8.0 49.0
Drawbridge Global Macro Fund LP 0.016 hedge fund 5,000,000 85 8.0 43.0 Goldman Sachs & Co. LLC
Drawbridge Global Macro Fund Ltd 0.074 hedge fund 5,000,000 266 73.0
Drawbridge Long Dated Value Fund III (B) LP 0.045 hedge fund 5,000,000 15 3.0 Goldman Sachs & Co. LLC
Fcf Gsof LLC 0.168 private equity fund 0 4
Fco Ma IV LP 0.437 hedge fund 0 2 5.0
Fco Ma Lss LP 0.331 hedge fund 0 1 1.0 Goldman Sachs & Co. LLC
Fco Ma Maple Leaf LP 0.853 hedge fund 0 1 1.0 Goldman Sachs & Co. LLC
Fjof3 Residential Coinvestment Fund (Yen) Holdings L.P. 0.000 hedge fund 0 10 8.0
Fortress Credit Funding VI LP 0.138 securitized asset fund 0 1 100.0
Fortress Credit Opportunities Fund (C) L.P. 0.398 hedge fund 5,000,000 34 1.0 20.0
Fortress Credit Opportunities Fund II (A) LP 0.391 hedge fund 10,000,000 123 3.0
Fortress Credit Opportunities Fund II (B) LP 0.261 hedge fund 10,000,000 54 1.0 1.0
Fortress Credit Opportunities Fund IV (A) LP 0.723 hedge fund 10,000,000 176 1.0 8.0
Fortress Credit Opportunities VII CLO Limited 0.674 securitized asset fund 0 2 100.0
Fortress Equity Partners (A) LP 1.130 hedge fund 5,000,000 2 100.0
Fortress Etxu LLC 0.027 private equity fund 0 19 100.0
Fortress Florida Coinvestment Fund (Fund A) LP 0.767 hedge fund 0 48 50.0 17.0
Fortress Investment Fund III (Coinvestment Fund C) LP 0.004 hedge fund 10,000,000 7

Historical Performance

Returned 17% in 2006http://media.ft.com/cms/02fd5a42-f338-11db-9845-000b5df10621.pdf

Drawbridge Global Macro Fund up 1.06% in February 2007http://www.hedgefundintelligence.com/ar/Article.aspx?PositionID=22836

Drawbridge Global Macro Fund up 4.39% YTD as of 3/20/2009.http://dealbreaker.com/2009/03/dear-fortress-family.php

Key People

NameTitlePositionOwnership
Daniel BassChief Financial Officer Owner or OfficerNone
Peter BrigerPrincipal And Director Owner or OfficerNone
David BrooksVice President, General Counsel & Secretary Owner or OfficerNone
Michael CohnChief Compliance Officer Owner or OfficerNone
Wesley EdensPrincipal And Director Owner or OfficerNone
Randal NardoneChief Executive Officer, Principal And Director Owner or OfficerNone

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