Fortress Announces Closing of Fortress Macro Fund

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Go back to Fortress Announces Closing of Fortress Macro Fund

Fortress Investment Group (FIG) to Shutter Fortress Macro Funds; Will Return All Capital by End of 2015

October 13, 2015 11:37 AM EDT

Fortress Investment Group (NYSE: FIG) announced that it will close the Fortress Macro Funds and managed separate accounts (FMF or the Funds) and return all capital to investors by the end of the year. Fortress Principal Michael Novogratz, who founded the firms Liquid Markets business in 2002, is expected to retire from the firm and its Board of Directors at year end.

In conjunction with todays announcement, Fortress will redeem all of Mr. Novogratz Fortress Operating Group Units, representing beneficial ownership of approximately 56.8 million class A or equivalent shares as of September 30, 2015. The company will repurchase... More