Fortress Investment Group LLC

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Olympic Losers: Fortress Foreclosure
As the world's best skiers and snowboarders squared off on the slopes of the Whistler Blackcomb resort, creditors of the property, including Lehman Brothers, prepared for a foreclosure auction.

Fortress Investment Group LLC Company Profile


Fortress Investment Group LLC is a publicly traded alternative asset manager with private equity funds, hedge funds and publicly traded alternative investment vehicles. Market turmoil has all but flattened this boutique's stock price and there has been speculation that it could go private again.

Fortress raised the gates to halt redemptions in its largest hedge fund, the Drawbridge Global Macro Fund. But it managed to raise $3 billion in 2008 for Fortress Credit Opportunities Fund LP, which makes credit-related investments around the globe. High stakes are part of the culture of this firm, which is run by vets from Goldman Sachs Group Inc. and BlackRock Inc.. Fortress recently named Daniel Mudd, former chief executive of Federal National Mortgage Association, CEO, replacing Wesley Edens, the company's founder and largest shareholder, to free him up to focus more on investments. Mudd is the son of TV newsman Roger Mudd.



Love to ski? Fortress Investment Group LLC's funds have a controlling investment in ski-resort company Intrawest, which operates in Whistler Blackcomb, Steamboat and other destinations. One clue to the company cutlure: President Michael Novogratz, a former U.S. Army helicopter pilot, is a big fan of fantasy football. The firm's careers page invites visitors to send along a resume and cover letter. But amid the cratering market, employee retention was among the firm's many concerns.

Facts & Resources

Employees:   820
Stock Quote   FIG
Company Site:
Career Site:   Careers

Subsidiaries & Divisions

  • Eurocastle Investment Limited
  • Fortress Credit Opportunities Fund LP
  • Newcastle Investment Corp.




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