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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 Fortress’s technology, infrastructure and client relationships. The first fund to join the new platform will be the firm’s own Singapore-based Fortress Asia Macro Fund, or FAMF, managed by CIO Adam Levinson. Levinson is expected to join Fortress’s 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 – to be called Graticule Asset Management Asia – with Fortress as a non-control partner and provider of FAMF’s 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 business’s 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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December 19, 2014
17:20 EDTFIGNew Senior names Justine A. Cheng as CFO
The Board of Directors of New Senior Investment Group (SNR) has appointed Justine A. Cheng as CFO and Treasurer effective as of December 19. New Senior was spun off from Newcastle Investment Corp. as an independent publicly traded company in November and is managed by Newcastle’s manager, FIG, which is an affiliate of Fortress Investment Group (FIG). Cheng has been actively involved with New Senior as CFO and Treasurer of Newcastle.
08:34 EDTFIGFortress potential into 2015 accelerating, says JMP Securities
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December 18, 2014
18:03 EDTFIGFortress looks to sell TRAC Intermodal, Reuters says
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17:50 EDTFIGFortress looks to sell TRAC Intermodal, Reuters says
December 15, 2014
09:08 EDTFIGMicroFinancial agrees to be acquired by funds managed by Fortress
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