On May 22, 2015, Fortress Investment Group LLC announced that it had reached an agreement with Kellett Capital Management LP to make affiliates of Fortress Investment Group LLC co-managers of certain Mount Kellett investment funds.
Mount Kellett Capital Management LP (“Mount Kellett”) affiliates will continue to serve as general partner to the Funds while the affiliates of Fortress Investment Group LLC (“Fortress”) will become special limited partners of the Funds.
Fortress, a global investment management firm based out of New York City, has $69.9 billion in assets under management across platforms that include private equity, credit, liquid hedge funds and traditional asset management. Mount Kellett is a private investment firm also based in New York that manages approximately $5 billion in assets under management.
The financial terms of the transaction were not disclosed.
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