Fortress Investment Group LLC has completed a closing with third party commitments of approximately USD 2.84 billion for its newly launched private equity fund.
Fortress Investment Group LLC has completed a closing with third party commitments of approximately USD 2.84 billion for its newly launched private equity fund. The fund is being raised to continue Fortress’s strategy of making control investments in asset-based businesses and asset portfolios primarily in North America and Western Europe.
The fund is ultimately expected to have approximately USD 5 billion of capital commitments. Third party capital commitments are capped at USD 4 billion, and approximately USD 1 billion is expected to come from Fortress, its principals, employees and affiliated funds managed by Fortress.
Interests in the new fund will not be and have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Fortress is a leading global alternative asset manager with approximately USD 35.1 billion in assets under management as of 31 December 2006. Fortress raises, invests and manages private equity funds, hedge funds and publicly traded alternative investment vehicles. Fortress was founded in 1998.
