He also conducts research on the market and on prospective investors on behalf of our clients. Andrew received a B.S.B.A. Patrick received a B.S.B.A. Mona holds a B.A. Three weeks before the opening of the 2010 Winter Olympics in Vancouver, Fortress failed to make payment on its loan used to buy out Intrawest. Prior to Williamson Advisors, Bruce was Vice President at KD Equities, a New York-based buyout fund focused on middle-market companies. [18] The agreement was announced on January 5, with Varde Partners also taking part in the purchase. in Economics and Management and a Credential in Quantitative Financial Economics. Prior to Reynolds, Patrick worked at Trimont Real Estate Advisors, with responsibility for valuation, asset management, and resolution of distressed commercial real estate assets for investment bank and fund clients. Rolf is a graduate of Switzerland's University of St. Gallen and a Certified Investment Fund Director. What We Do. On June 15, 2007, Fortress announced that it would partner with Centerbridge Partners to acquire Penn National Gaming, an operator of casinos and horse racing venues, for $6.1 billion. Jared received a B.S. in Civil Engineering with highest honors and an M.S. Prior to joining Fortress Group, Andrew was with Corrum Capital Management, a private capital fund-of-funds firm. The transaction was completed in February 2007. in Finance, Economics, and Accounting as well as a M.S. Johanna joined Fortress Group to provide support for company operations and office systems. Under the termination agreement, Penn National receives $1.475 billion, consisting of a breakup fee of $225 million and an interest-free $1.25 billion loan from Fortress, Centerbridge, Wachovia and Deutsche Bank. Prior to joining Fortress, Patrick was with Reynolds Capital Group, a real estate private equity fund, where he focused on the acquisition of distressed assets in the Southeastern US. Before Abbott Capital, she was a Managing Director and global head of consultant relations at Fortress Investment Group, raising capital for private credit, private equity, and macro hedge funds. [42], On March 9, 2020, Fortress Investment, through its non-operating subsidiary Labrador Diagnostics which was incorporated on March 6, 2020, used intellectual property patents acquired from the now defunct company Theranos to sue BioFire Diagnostics, a health startup owned by BioMérieux, in an attempt to extract money through patent trolling. Patrick began his career at J.P. Morgan in the Commercial Real Estate Capital Markets Group. [32] The lawsuit was filed in New York state court, alleging Dechert issued a "false" legal opinion letter that Dreier used to defraud Fortress. Prior to joining Fortress, Jared was a Vice President at MVision Private Equity Advisers, a private fund placement agent, where he focused on deal co-ordination, investor distribution and deal execution. Consequently, Fortress was unable to provide further financing to Millennium forcing the City of Vancouver to pay approximately $450 million (CAD) to complete the project in time for the Winter Olympic Games. in Industrial Engineering from Georgia Institute of Technology and his MBA from Georgia State University. Shane supports project management and distribution across a range of client mandates, developing presentations for fund managers and responding to due diligence requests. Prior to 1998, Chris was Managing Director and Co-Head of the Private Equity Group at Bank Austria Group. Alan supports project management and distribution across a range of client mandates, developing presentations for fund managers and responding to due diligence requests. Mona started her career in consulting with CSC Index, working with Fortune 300 companies on strategic initiatives. Patrick is a member of the North American distribution team, leading relationship development with a range institutional and private investors. [13] However, as of October 13, 2015, the company announced that the $2.3 billion Macro Fund was to close down and distribute its assets to investors. Prior to joining Fortress Group, Jeff spent 20 years at Oppenheimer & Co. Inc., most recently as Executive Director Institutional Equity Sales, managing the Southeast territory. [11], In 2014, Fortress Investment Group was named "Hedge Fund Manager of the Year" by Institutional Investor and "Management Firm of the Year" by HFMWeek. Fortress has said it lost $125 million purchasing fraudulent promissory notes from Marc Dreier, who had been operating a Ponzi scheme. He also conducts research on the market and on prospective investors on behalf of our clients. Andrew Lobas joined Fortress Group as a member of the Project Management team with responsibilities in both content creation and facilitating LP diligence. Products and services are offered in jurisdictions where the firms and their representatives are registered or exemptions from registration exist. [24], In 2020, Fortress Investment increased its bid for Japanese company Unizo to roughly $1.6 billion. Chris co-founded Fortress Group as successor to the business he established in 1998, Fortress Capital Corp., a merchant banking firm specializing in private equity investments and capital raising for private equity funds. Rolf has more than 30 years of experience with leading Swiss and international investment banks in Switzerland, Japan and the United Kingdom. Prior to Nokia, she was Management Assistant to the CEO of Helin & Co. Architects in Helsinki. Bruce received his A.B. Don also organized and executed over 100 investor roadshows across the Southeast for the management teams of major corporations such as Ecolab, Graco and Rockwell Collins. [34], On January 21, 2014, Fortress Investment Group was the winning bidder for the assets of the Montreal, Maine and Atlantic Railway, a line bankrupted after the July 6, 2013 Lac-Mégantic derailment of a runaway train loaded with crude oil obliterated much of historic downtown Lac-Mégantic, Quebec, causing 47 fatalities. in Economics from Colgate University and his MBA from the Tuck School of Business at Dartmouth. Historical business data for Fortress Investment Group: This page was last edited on 28 August 2020, at 21:16. During that time, he served as a trusted advisor to portfolio managers investing over $400 billion in discretionary capital, including state pension plans, large hedge funds, and major mutual fund companies. Founded in 1998, Fortress manages $45.5 billion of assets under management as of June 30, 2020, on behalf of approximately 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Quan supports project management and distribution across a range of client mandates, developing presentations for fund managers and responding to due diligence requests. [9] When Fortress launched on the NYSE on February 9, 2007 with Goldman Sachs and Lehman Brothers underwriting the IPO, it was the first large private equity firm in the United States to be traded publicly. He also conducts research on the market and on prospective investors on behalf of our clients. Rolf Winzeler joined Fortress Group as a Senior Advisor for Europe and is based in London. He also is the Senior Partner of Palomar Private Equity LLP, a UK-regulated consultancy specializing in the marketing of AIFMD fund services and other services for private equity groups. As a Co-founder and Managing Director of Fortress Group, Chris manages key investor relationships, originates new mandates, and plays an active role in project management. Prior to MVision, Jared worked at First Reserve, global energy private equity firm, focusing on the firm’s fundraising and marketing efforts. His prior work experience includes roles at iHealth Technologies, Booz Allen & Hamilton, and HP/Compaq. Financial instability in September 2008 saw Fortress Investment Group reportedly at the brink of bankruptcy. in Business Management from Georgetown University, where he was a two-time letter winner on their NCAA Division I football team. Fortress co-chairman Wesley Edens assumes a seat on the board of Penn National as part of the agreement.[30][31]. Rick began his career in banking at Donaldson, Lufkin & Jenrette where he focused on leveraged finance for mostly international clients. Penn National shareholders were to receive $67 cash for each share. (Series 7, 63, 24, 79), As a Co-founder and Managing Director of Fortress Group, Bruce manages key investor relationships, originates new mandates, and plays an active role in project management. in Sociology from The University of San Francisco. (Series 7, 63, 65). On November 15, 2006, RailAmerica announced that a Fortress-managed fund would acquire the company, offering $16.35 per share (a 32% premium). Seamus received a Bachelor of Arts degree in economics, as well as a minor in sociology, from the University of Georgia’s Terry College of Business. During that time, he served as a trusted advisor to portfolio managers investing over $400 billion in discretionary capital, including state pension plans, large hedge funds, and major mutual fund companies. Prior to joining Fortress Group, Mona was a Principal at Abbott Capital, a private equity fund-of-funds manager, leading investor relations and fundraising across a range of investor types and regions. (Series 79, 63), As a Managing Director of Fortress Group, Catherine manages key investor relationships in Europe and the Middle East, originates new mandates, and plays an active role in project management. Fortress has previously been recognized by Institutional Investor as “Discretionary Macro-Focused Hedge Fund of the Year” for 2012, and “Credit-Focused Fund of the Year” for both 2011 and 2010. She received her Bachelor’s Degree in Business Administration from Helsinki Polytechnic University. Fortress Investment Group LLC is a leading, highly diversified global investment manager.