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Stock Market & Financial Investment News

News Breaks
January 24, 2014
09:06 EDTFIGFortress launches affiliated manager platform, sees FAMF to become autonomous
Fortress announced that it is launching an affiliated manager platform as part of the firm's growth strategy in the liquid alternative investment space. The platform will allow Fortress to take an economic interest in high potential start-up and established funds, and to provide a fee-for-services model for funds seeking to leverage Fortressís technology, infrastructure and client relationships. The first fund to join the new platform will be the firmís own Singapore-based Fortress Asia Macro Fund, or FAMF, managed by CIO Adam Levinson. Levinson is expected to join Fortressís Board of Directors and will continue to invest for Fortress-managed funds as well as serving as CIO for FAMF. Over the course of 2014, Mr. Levinson will transition FAMF, staffed with the current FAMF team, into an autonomous asset management business Ė to be called Graticule Asset Management Asia Ė with Fortress as a non-control partner and provider of FAMFís infrastructure services. It is also anticipated that FAMF will change its name to Graticule Asia Macro Fund. Fortress will retain a perpetual minority interest in Graticule Asset Management Asia, including economics generated by FAMF and other funds introduced in the future. This economic interest will amount to 42.5% of earnings during the businessís first year as an affiliated manager and will decline to approximately 27% over time. Fortress expects to generate additional fees for technology, back office and other services provided to the fund. FAMF had assets under management of $1.8B as of September 30, 2013, having reached its 2013 AUM cap during the third quarter.
News For FIG From The Last 14 Days
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May 26, 2015
10:12 EDTFIGFortress management to meet with JMP Securities
Meeting to be held in Boston on May 27 hosted by JMP Securities.
May 22, 2015
19:35 EDTFIGFortress, Mount Kellett Capital to form strategic alliance, terms not disclosed
Fortress Investment Group and Mount Kellett Capital Management announced they have reached an agreement for an affiliate of Fortress to become co-manager with Mount Kellett of the Mount Kellett investment funds and related accounts. Mount Kellett affiliates will continue to serve as general partner of the Funds. Additionally, affiliates of Fortress will become special limited partners of the Funds. Financial terms of the transaction were not disclosed. The transaction is subject to receipt of Mount Kellett investor consent and certain other approvals and the execution of definitive agreements. The transaction is expected to close on or about June 30.
May 19, 2015
06:31 EDTFIGFortress Investment reports 6.4% stake in Newcastle Investment
Fortress Investment Group (FIG) reports a 6.4% stake in Newcastle Investment (NCT).

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