Press Release

David Shell Joins Fortress’s Logan Circle Partners to Lead Growth Equities Investment Business

Company Release - 4/1/2013 9:40 AM EDT

NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) today announced that the firm’s Logan Circle Partners subsidiary is launching a new growth equities investment business to be headed by Chief Investment Officer David Shell, who has joined Logan Circle effective immediately. The new growth equities team will focus on investing and managing concentrated portfolios of publicly traded U.S. equities for institutional clients.

Mr. Shell previously served as Co-Chief Investment Officer of the Growth Equities Investment team at Goldman Sachs Asset Management, where he was responsible for the portfolio management and investment research process for over $20 billion of client assets.

The arrival of Mr. Shell marks the strategic addition of an institutional equities capability to Logan Circle, which currently manages $21 billion across 15 institutional fixed income strategies. Mr. Shell will build out the growth equities investment business in Tampa, Florida.

“David is an outstanding addition to our team, with 25 years of industry experience, a strong track record of investment performance, and a proven ability to build a robust institutional equity business,” said Jude Driscoll, founder and Chief Executive Officer of Logan Circle Partners. “With an overriding focus on investment performance and client service, there is a strong cultural fit with our current team, and our infrastructure and technology platforms are well-suited to support a large institutional equity business. We are excited to expand our product offerings and bring our limited partners a best-in-class institutional equity offering.”

“This is a significant milestone in our efforts to expand and diversify a strong and highly scalable Logan Circle business into a broader traditional asset management platform,” said Fortress Principal and interim Chief Executive Officer Randal Nardone. “Across Fortress, we are focused on combining robust economic, industry, and company research to deliver superior investment returns. Active management of public equities is a natural extension of our skills and reflects our commitment to offer a wider range of traditional and alternative investment options to our institutional clients.”

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment firm with $53.4 billion in assets under management as of December 31, 2012. Founded in 1998, Fortress manages assets on behalf of over 1,400 institutional clients and private investors worldwide across a range of private equity, credit, liquid hedge funds and traditional asset management strategies. Fortress is publicly traded on the New York Stock Exchange (NYSE: FIG). For additional information, please visit www.fortress.com.

Fortress Investment Group LLC
Gordon E. Runté, 212-798-6082

Source: Fortress Investment Group LLC