Since it was founded in 1998, Fortress Investment Group has been recognized as a conglomerate in the private equity industry. With offices in major cities like New York, Hong Kong, Italy, and Philadelphia, Fortress investment claims over 1,800 clients across the globe. Recently the company partnered with Colony CDCF to expand its territories.
Acquisition of Colony CDCF
Recently, Fortress Investment Group LLC announced that it is partnering with Colony Capital where the company’s partners would take control of part of Colony’s CDCF funds. Other assets that Fortress would oversee include co-investment vehicles and assets worth $2.7 billion. Under the partnership terms, Fortress is expected to acquire capital account positions of Colony’s real estate and liquefied portfolio worth over 100 properties and about 40 positions.
Value of the Deal
The acquisition will see Fortress take charge of the “Other Equity and Debt” (OED) assets of Colony. The company believes that with its expertise and financial capability, it will be able to resolve the remaining Colony’s assets as it focuses on investment value optimization. The combined partnership will allow both companies to diversify their investments, asset classes, and underlying industries across the globe. Noah Shore, the company’s Managing Director, noted that Colony fits into Fortress’ business perfectly and will enhance its expertise and experience in managing different asset types and complex investments.
Hiring of New Advisor
In its preparation to expand its holdings, Fortress appointed Timothy J. Sloan in 2020 to be its Senior Advisor. Mr. Sloan was hired to offer counsel and advice to the company’s senior management and the investment committee.
About Fortress Investment Group
The public-owned company has expanded its investments over the years, boasting of up to $53.1 billion worth of assets. Headquartered in New York, the company has about 170 investment experts and 830 employees. Over the years, Fortress Investment Group has transitioned from a pure private equity corporation to a diversified investment firm globally.
For details: www.fortress.com/about