Fortress’s Liquid Markets hedge fund business was launched in June 2002 by Mike Novogratz. Liquid Markets has a multi-disciplinary team with experience trading through various market conditions, geographies and asset classes. The team’s top priority is the preservation of capital supported by extensive market analysis focused on top-down idea generation and fundamental research. The Liquid Markets hedge fund business primarily consists of Fortress Funds (Macro, Convex Asia, Partners and Centaurus Global) and the Fortress Affiliated Manager Platform (“Affiliated Managers”).
The Fortress Macro Funds seek to combine extensive fundamental research with market momentum analysis to exploit opportunities in foreign exchange, fixed income, equity and commodity markets and their related derivatives.
The Fortress Convex Asia Funds seek to deliver outsized positive returns in periods of heightened capital markets volatility or dislocation.
The Fortress Partners Funds invest with a broad mandate including investing in third party managed funds, similar to the endowment portfolios of large universities.
The Fortress Centaurus Global Funds are global equity biased event driven funds, which generally focus on soft and hard catalyst situations in liquid securities across the capital structure.
Through its Affiliated Manager Platform, Fortress takes economic interests in high potential start-up and established funds, and provides a fee-for-services model for funds seeking to leverage Fortress’s infrastructure services. In January 2015, the Fortress Asia Macro Funds and related managed accounts transitioned into Graticule Asset Management Asia, L.P., as part of the affiliated manager platform.
(1) Includes $4.0 billion of AUM related to Affiliated Managers as of 1Q 2015.