On December 11, 2023, Fortress Investment Group LLC announced that it acquired a multi-manager hedge fund offering from PineBridge Investments.
Under the terms of the transaction, Fortress Investment Group LLC (“Fortress”) announced that it acquired a multi-manager hedge fund platform from PineBridge Investments (“PineBridge”). As of closing, the platform has been renamed Fortress Multi-Manager Group. Further terms of the deal were not disclosed.
Fortress, based in New York, is an investment management firm that manages alternative assets in private equity, liquid hedge funds, and credit funds. As of September 2023, Fortress had $46.2 billion in assets under management.
PineBridge, based in New York, is a private, global asset manager focused on active, high-conviction investing. As of September 2023, PineBridge had $155.2 billion in assets under management.
To read the press release: please click here.