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 the Fortress Macro Funds, the Fortress Asia Macro Funds, the Fortress Convex Asia Funds and the Fortress Partners Funds.
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 Asia Macro Funds execute a disciplined dynamic and modular investment process across all asset classes through trades linked to the Asia-Pacific region. In January 2014, Fortress announced the launch of an affiliated manager platform with the Fortress Asia Macro Funds expected to become the new platform's anchor fund.
The Fortress Convex Asia Funds seek to deliver low returns in normal market environments and 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.