Articles from Fortress Investment Group LLC

Fortress Investment Group announces the appointment of Rob Reynolds as Managing Director, Head of European Institutional Business Development within its Client Product and Solutions Group (“CPSG”).

Fortress Investment Group today announced key leadership appointments for the firm’s newly created Client and Product Solutions Group (“CPSG”), which will replace the firm’s prior Capital Formation Group (“CFG”) in January 2025. Scott Werthamer, a 17-year Fortress veteran and formerly Deputy Head of CFG, and Seth Ruthen, who joins Fortress on January 6, 2025, will co-Head CPSG, reporting to the firm’s Managing Partners. Leading the Client and Product Solutions Group globally, Scott and Seth will oversee Fortress’s fundraising strategy, relationship management and sales, Private Wealth Solutions business, product specialists, client service, and client marketing teams.

Fortress Investment Group today announced the completion of two industrial outdoor storage (“IOS”) refinancings totaling $708 million. The transactions included a $493 million first-of-its-kind single-asset, single-borrower (“SASB”) CMBS loan, in addition to a $215 million balance sheet loan. Both transactions were completed by funds managed by affiliates of Fortress Investment Group LLC (“Fortress”) on June 7, 2024, with financing led by Deutsche Bank.

Fortress today announced the completion of a £750 million forward flow agreement with Tabeo, the largest provider of retail finance for primary care providers in the UK. The new debt financing with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”) will support Tabeo’s continued growth and the acquisition of new enterprise customers.

Fortress Private Wealth Solutions was recognized as the “Best Asset Management Solution for Family Offices” and received High Commendation for “Best Alts Solution for Private Wealth Firms” at the With Intelligence Private Asset Management Awards, held on February 8th in New York. For 20 years, the With Intelligence awards have recognized leading performers and innovators in the US private wealth management industry, providing a platform for investment professionals, wealth advisors, legal firms, consultants, and other key service providers to showcase their achievements in the space.

Fortress Investment Group LLC (“Fortress”) today announced the acquisition of a global multi-manager hedge fund offering from PineBridge Investments and the hiring of Jeff Runnfeldt as Chief Investment Officer of a new global multi- manager investment platform, the Fortress Multi-Manager Group (“Fortress MMG”).

Village House Management Co., Ltd. (Headquarters: Minato-ku, Tokyo; President and CEO: Tatsuhiko Iwamoto; hereinafter referred to as “Village House”) today announced that its rental housing management company, "Village House," has achieved a "2-star" rating in the GRESB Real Estate Assessment conducted in 2023. The annual benchmark assessment, which in 2023 saw the participation of 2,084 listed and unlisted real estate firms worldwide, measures the environmental, social, and governance (ESG) considerations of real estate companies and funds (for further information, visit the official GRESB website: www.gresb.com).

Fortress Investment Group LLC (“Fortress”) today announced the formation of Fortress Private Wealth Solutions, a business that will bring over two decades of Fortress institutional-grade investment experience and expertise to a growing segment of individual investors seeking greater access to alternative asset classes and private markets. Fortress Private Wealth Solutions is part of the firm’s Credit and Real Estate business, which manages over $45 billion across a broad range of alternative asset classes on behalf of many of the world’s largest and most sophisticated institutional investors.

Fortress Investment Group LLC (“Fortress”) was ranked as the 2nd fastest-growing brand among 50 alternative investment managers included in the second edition of the Alts 50 report, published by Peregrine Communications. The report provides a qualitative and quantitative assessment of the integrated marketing and communications activities of the world’s 50 largest alternative investment managers (measured by assets under management).

Fortress Investment Group LLC (“Fortress”) today announced that its affiliates have completed previously announced transactions with DigitalBridge Group Inc. (NYSE: DBRG, “DigitalBridge”) and BrightSpire Capital Inc. (NYSE: BRSP, “BrightSpire”), with total consideration of approximately $730 million.

Fortress Investment Group LLC (“Fortress”) was named the recipient of the inaugural “Diversity and Inclusion Achievement” award at the 2021 HFM US Performance Awards, which were held on November 4 in New York City. The prestigious awards celebrate US hedge funds and fund of hedge funds that have demonstrated exceptional performance and management over the last 12 months.

Fortress Investment Group LLC (“Fortress”) today announced that following the acquisition of Vannin Capital by funds managed by Fortress in 2019, the operations of Vannin Capital are now being restructured into the Fortress Legal Assets business. As part of the restructuring, a number of Vannin Capital employees will transfer to Fortress. This change will have no impact on Vannin Capital’s existing investments, and Vannin Capital will remain the counterparty to its various litigation funding agreements. The restructuring is taking effect immediately.

Fortress Investment Group LLC (“Fortress”) today announced an agreement to sell Foundation Home Loans, the UK specialist mortgage lender and servicer, to Athene Holding Ltd., an industry-leading financial services company focused on retirement savings solutions.

Fortress Investment Group LLC (“Fortress”) today announced that it has entered into a definitive agreement with Colony Capital (“Colony”) under which one or more affiliates of Fortress will become General Partner and Manager to Colony’s CDCF series of funds, co-investment vehicles and other non-digital real estate positions, representing approximately $2.7 billion in combined assets under management. Under terms of the agreement, Fortress will acquire certain of Colony’s capital account positions in non-digital real estate, including positions related to a portfolio of approximately 40 positions encompassing over 100 properties in Europe and the U.S. Total consideration is $535 million, subject to customary adjustments.

DiamondRock Hospitality Company (“DiamondRock”) (NYSE: DRH), announced today that it sold the 478-room Frenchman's Reef Marriott Resort & Spa and Noni Beach, Autograph Collection project in St. Thomas, U.S.V.I. (collectively, “Frenchman’s Reef”) to an affiliate of Fortress Investment Group LLC (“Fortress”). As consideration, DiamondRock has received an upfront cash payment as well as a participation right in the future profits of the hotel once certain return metrics are achieved. The resort has been closed since it experienced devastating impact from sequential hurricanes in 2017. Under Fortress ownership, the Frenchman’s Reef will complete a major rebuilding project and reopen as a global destination resort.