Fortress Investment Group LLC
|Fortress Investment Group LLC|
|Headquarters||New York, NY|
|Key People||Peter L. Briger, Jr., Co-Chairman & Principal; Wesley R. Edens, Co-Founder, Co-Chairman & Principal|
|Products||Global investment management|
Fortress Investment Group LLC is a global investment management firm headquartered in New York. As of Sept. 30, 2011, Fortress had approximately $43.6 billion in assets under management.
On Dec. 21, 2011, CEO Daniel H. Mudd announced that he would be taking a leave of absence due to his involvement in a U.S. Securities and Exchange Commission (SEC) suit against Fannie Mae. Mudd is the former CEO of Fannie Mae and was temporarily replaced by Fortress co-founder Randal A. Nardone.
Full page at MarketsWiki
In February 2020, Fortress sent letters to creditors of the defunct cryptocurrency exchange Mt. Gox, offering to buy their credit claims at a rate of $1,300 per bitcoin owed - 88 percent of its estimated value, according to the letter. Fortress made similar offers in December 2019, offering to buy the claims at $755 per bitcoin. Michael Hourigan, a managing director at Fortress, said in the letter that the firm was making the offer "due to the likely timeline (3 to 5 years) and financial risk of the ongoing litigations" related to getting the bitcoin from Mt. Gox. At this point, the price of bitcoin had rallied about 40 percent since the beginning of the year, surpassing $10,000 around the time the letters were sent out.
- Peter L. Briger, Jr. - Co-Chairman & Principal
- Wesley R. Edens - Co-Founder, Co-Chairman & Principal
- Fortress CEO Mudd Takes Leave Amid SEC’s Fannie Mae Lawsuit. Bloomberg Businessweek.
- Fortress Said to Increase Offer to Purchase Mt. Gox Claims. Bloomberg.