Fortress Named “Management Firm of the Year” at HFMWeek 2014 Asia Performance Awards
Company Release - 9/30/2014 5:00 PM EDT
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) has been named “Management Firm of the Year” at the HFMWeek 2014 Asia Performance Awards. In addition, the Fortress Asia Macro Fund (“FAMF”) was shortlisted in the category of “Best Macro Fund.” Fortress received top honors in each of these categories in 2012.
“We are honored to be named ‘Management Firm of the Year’ in recognition of our Asia-focused hedge fund strategies,” said Stu Bohart, Senior Managing Director and Co-President of Liquid Markets at Fortress Investment Group. “We thank the HFMWeek panel of judges and are deeply grateful for the continued confidence of our fund investors. We see compelling investment opportunities in the Asia-Pacific region today, and believe our strategies position us to capitalize on our investors’ behalf.”
Fortress’s Liquid Markets business has long invested in a range of instruments, asset classes and geographies across the Asia-Pacific region through its flagship Fortress Macro Funds. In March 2011, the firm launched the Fortress Asia Macro Fund, and in May 2012, it launched the Fortress Convex Asia Fund. Both of these funds are managed out of Singapore. Fortress’s Liquid Markets business had $7.9 billion in assets under management as of June 30, 2014.
In January 2014, Fortress announced that Graticule Asset Management Asia (“GAMA”), a newly-formed independent asset management firm based in Singapore, will assume ownership of the investment adviser and general partner of FAMF. Adam Levinson, the Chief Investment Officer of FAMF, will be the managing partner of GAMA, which will be staffed with the current FAMF team. GAMA will continue to use Fortress’s infrastructure and institutional-quality back office capabilities as part of Fortress’s affiliated manager platform. Fortress will have a non-controlling economic interest in GAMA.
Sponsored by HFMWeek, a leading global provider of hedge fund industry news, analysis and market intelligence, the Asia Performance Awards recognize outstanding achievement in Asia-focused fund strategies based on a range of quantitative and qualitative criteria. Award winners are selected by a panel of judges including HFMWeek representatives, leading institutional and private investors and independent industry experts.
Fortress Investment Group LLC is a leading, highly diversified global investment firm with approximately $63.8 billion in assets under management as of June 30, 2014. Founded in 1998, Fortress manages assets on behalf of approximately 1,600 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 more information, please visit www.fortress.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts, but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control and are subject to a number of factors that could lead to actual events to differ, possibly materially, from such forward-looking statements. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Quarterly Report on Form 10Q for the quarter ended June 30, 2014. In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. The Company can give no assurance that the expectations of any forward-looking statement will be obtained. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
Fortress Investment Group LLC
Gordon E. Runté, 212-798-6082
Sanam Heidary, 212-515-4694
Source: Fortress Investment Group LLC