Fortress Raises $1.0 Billion for Latest Opportunistic Credit Real Estate Fund
June 18 2015 - 4:45PM
Business Wire
Fortress Investment Group LLC (NYSE:FIG) announced today it has
raised $1.0 billion for its latest opportunistic Credit Real Estate
fund, Fortress Real Estate Opportunities Fund (“FROF”) II. The
fund, which began fundraising in 2014, closed at its cap of $1.0
billion. With the completion of this fundraise, the Fortress Credit
Real Estate funds have accepted nearly $2 billion of new capital
over the last twelve months.
Approximately 50% of FROF II’s commitments come from public and
corporate pensions, endowments and foundations. Approximately 20%
of the fund’s capital has already been committed or invested in the
U.S. and Europe. FROF II is a successor fund to FROF I and related
funds, which launched in September 2011 with approximately $625
million in commitments.
Fortress’s Credit Real Estate Opportunities Funds are private
equity style funds that focus on opportunistic investments in
distressed and undervalued commercial real estate assets, primarily
in the U.S. and Europe. Since 2003, Fortress’s Credit Real Estate
team has invested approximately $8 billion of capital in
opportunistic real estate globally.
About Fortress
Fortress Investment Group LLC is a leading, highly diversified
global investment firm with $69.9 billion in assets under
management as of March 31, 2015. Founded in 1998, Fortress manages
assets on behalf of approximately 1,700 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 additional information, please visit
www.fortress.com.
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Fortress Investment Group LLCGordon E. Runté, 212-798-6082
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