Fortress Named as Finalist for All Relevant Asia Categories in 2010 PERE Global Awards
Company Release - 1/18/2011 4:30 PM EST
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) has been named a finalist in four separate categories in the 2010 PERE (Private Equity Real Estate) Global Awards. Tom Pulley, Chief Investment Officer of Fortress Japan, was named a finalist for “Asia Industry Figure of the Year,” and the company attained finalist status in all additional Asia categories for which it was eligible - “Asia Firm of the Year,” “Asia Fundraise of the Year,” and “Asia Deal of the Year.” The awards are sponsored by PERENews.com and PERE, with winners to be determined exclusively by the vote of industry members.
“These nominations reflect a year of significant achievement for Fortress in Asia,” said Daniel Mudd, Fortress’s Chief Executive Officer. “Tom and his team deserve recognition for their exceptional efforts in 2010. The close of our first Japan Opportunity Fund was a major success, and we also took steps during the year to bring more Fortress capabilities to a growing Asia investor base. Adam Levinson’s move to our newly opened Singapore office and the addition of Tom Kang as President, Fortress Asia, exemplify our deep commitment to the region.”
“The PERE nominations recognize the efforts of an exceptionally talented team, the great support of our partners at Nomura, and of course, the confidence of our investors and their advisors worldwide,” said Pulley. “We’ve built a robust local platform backed by significant global resources and expertise. That positions us well to capitalize on even the most complex opportunities that emerge in a historically attractive investment environment.”
In June 2010, Fortress announced the final close of its first Yen denominated opportunity fund, Fortress Japan Opportunity Domestic Fund, at its cap of $800 million. The fund has invested primarily in real estate-related debt and other assets in Japan, and seeks to capitalize on the supply demand gaps, price distortions and volatility that the firm believes will result from significant deleveraging by financial institutions, and related sales of non-core real estate-related assets.
In October 2010, Fortress announced the opening of a Singapore office to serve as a key hub of the firm’s investment and business development activities in Asia. Adam Levinson, Co-CIO of the firm’s flagship global macro funds, has moved to Singapore to lead Fortress’s Asia-specific macro trading activities.
“The Asia region has long been a major focus of our liquid markets business, and we believe the region will continue to present attractive opportunities for us to leverage our global macro capabilities on our investors’ behalf,” Levinson said at the time of the announcement.
In December 2010, Fortress announced that Thomas Kang would join the firm as President, Fortress Asia. Mr. Kang, who has over 25 years of experience in the investment management industry, has taken on responsibility for business development, capital formation, strategy and management/administration in the Asia region. In the newly created position, Mr. Kang will directly support the continued strategic expansion of Fortress’s Asia business.
Fortress is a leading global investment manager with approximately $44.0 billion in assets under management as of September 30, 2010. Fortress offers alternative and traditional investment products and was founded in 1998. For more information regarding Fortress Investment Group LLC or to be added to our e-mail distribution list, please visit www.fortress.com.
Source: Fortress Investment Group LLCContact:
Fortress Investment Group LLC
Gordon E. Runté, 212-798-6082