Fortress Macro Fund Named Discretionary Macro-Focused Hedge Fund of the Year by Institutional Investor
Company Release - 7/2/2013 11:32 AM EDT
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) today announced that the Fortress Macro Fund was recognized by Institutional Investor as “Macro-Focused Hedge Fund of the Year, Discretionary,” at the magazine’s 11th Annual Hedge Fund Industry Awards. The award’s criteria included 2012 investment returns, risk management, investment discipline and selection, portfolio management, performance track record, stability of investment team, investor relations and back-office infrastructure.
With more than $3.0 billion under management, the Fortress Macro Fund is the core macro strategy of Fortress’s Liquid Markets business, which managed approximately $5.5 billion for institutional investors and private clients worldwide as of March 31, 2013. The Fortress Macro Fund recorded net returns of 17.8 percent in 2012 and 13.8 percent through May 31, 2013.
In addition, Fortress managing director David Swift, Global Head of Client Service –Liquid Markets, was named one of Institutional Investor’s “Rising Stars of Hedge Funds.” Institutional Investor “Rising Stars” represent “up-and-comers whose accomplishments in, and contributions to, the industry make them standout among their peers and position them as future industry leaders.”
“We thank Institutional Investor for this recognition, and we are grateful for the confidence that our investors and their advisors have placed in our team and our strategy,” said Michael Novogratz, Fortress Principal, Director and Co-CIO of Macro Funds. “I am proud of our team’s efforts and results, and see market dynamics today that should present ample opportunities to build on our record of performance to date.”
Fortress Investment Group LLC is a leading, highly diversified global investment firm with $56 billion in assets under management as of March 31, 2013. Founded in 1998, Fortress manages assets on behalf of over 1,500 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