Latest news with #CharlesSpetka
Zawya
16-05-2025
- Business
- Zawya
Fortress appoints Charles Spetka to lead Middle East Office
Abu Dhabi, UAE – Fortress Investment Group ('Fortress'), a leading global investment management firm, is pleased to announce Charles Spetka is rejoining the organization as Head of its Middle East office. Mr. Spetka will lead all Middle East operations from the firm's newly established Abu Dhabi office, the opening of which was announced yesterday. Fortress's new office in the Abu Dhabi Global Market (ADGM) marks a significant milestone in the firm's commitment to expanding its footprint in the Gulf region, building a stronger presence in one of the world's most dynamic investment markets. Based in the UAE for the past five years, Mr. Spetka brings over 20 years of experience in investment management and real estate finance. Mr. Spetka was the CEO of CW Financial Services, a real estate business acquired by Fortress; following nearly eight years at Fortress, Mr. Spetka transitioned to board member roles for several Fortress portfolio companies including DoValue, Mammoth Freighters and Aspire MRO. He has also led major initiatives in asset management and capital markets, particularly in non-performing loan businesses and commercial real estate finance. "I am excited to take on this new role and lead Fortress's strategic expansion in the Middle East region," said Mr. Spetka. 'Having lived in the region for the past five years and having been part of the Fortress franchise for about 15 years, I am confident in our ability to build a highly successful operation in Abu Dhabi Global Market, especially as we tap into the exceptional local talent. Our focus will be on both raising capital from and investing capital in the region across a variety of sectors, as we seek to support the development of the Gulf's already dynamic economies, bring their growing expertise to economies across the globe.' 'We're delighted to welcome Chuck back to Fortress,' added Drew McKnight and Josh Pack, Co-CEOs of Fortress. 'His knowledge of the region and of the Fortress franchise will be a significant boost in helping us quickly scale our new Gulf operations. We look forward to developing ever-deeper relationships with capital partners, securing investment opportunities, and building relationships with other important stakeholders across the region.' As Head of the Middle East, Mr. Spetka will oversee growth and operations, with an emphasis on expanding investment activities and capital-raising efforts across the region. He will represent Fortress in strategic engagements, strengthen partnerships, and leverage the region's abundant talent to identify and pursue investment opportunities in collaboration with local partners. Fortress's new office in Abu Dhabi is part of the firm's broader strategy to expand its global operations and serve the increasing demand for investment opportunities in the Middle East. Fortress will focus on creating long-term value by collaborating with local partners and identifying high-potential investments across various sectors, including real estate, infrastructure, and technology. About Fortress Investment Group Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $50 billion of assets under management as of 31 December 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts.
Reuters
14-05-2025
- Business
- Reuters
Fortress sets up Abu Dhabi office, appoints regional head in push for Gulf growth
ABU DHABI, May 14 (Reuters) - Fortress Investment Group has opened an office in Abu Dhabi and appointed a senior executive to build its business in the Gulf region, the U.S. firm said on Wednesday. Co-CEO Drew McKnight told Reuters in an interview that Charles Spetka has been appointed head of the Middle East and North Africa to lead its regional business. Harry Steel, a managing director at Fortress based in London, will also relocate to Abu Dhabi to lead distribution, he said. Companies such as Fortress are seeking co-investment opportunities in the Gulf region across private credit, real estate and asset-based strategies as regional economies diversify from oil and gas. Spetka is on the boards of Fortress portfolio companies, including Mammoth Freighters and Aspire MRO. The Abu Dhabi office will house two dedicated teams, one focused on consumer finance and the other on Fortress's multi-manager investment business, with staff expected to be hired locally as well as relocated from London, New York and Asia. Fortress, in which Abu Dhabi sovereign wealth fund Mubadala has a majority stake, plans to expand its local team to support origination, underwriting and asset management, with a focus on consumer finance and its multi-manager business. The announcement coincides with U.S. President Donald Trump's four-day tour of the Gulf, marked by lavish ceremonies and a flurry of business deals, including Saudi Arabia's $600 billion pledge to invest in the United States and $142 billion in American arms purchases. Fortress is eyeing Saudi Arabia as a key growth market, as the kingdom ramps up infrastructure spending under its Vision 2030 programme. "I think the opportunity in Saudi particularly on the consumer finance side, is immense... if you look at what the kingdom's plans are from an infrastructure perspective, they're probably more capital constrained, and in terms of their banks, really need people like this to come in," McKnight said. A consortium led by Mubadala Capital, a subsidiary of Abu Dhabi's Mubadala Investment Company, acquired a 68% stake in Fortress last year, though the U.S. firm says it retains full autonomy over investment processes, decision-making, personnel and operations. Last month, Mubadala Investment Company entered into a $1 billion strategic partnership with Fortress to invest in private credit.
Yahoo
14-05-2025
- Business
- Yahoo
Fortress sets up Abu Dhabi office, appoints regional head in push for Gulf growth
By Hadeel Al Sayegh and Manya Saini ABU DHABI (Reuters) - Fortress Investment Group has opened an office in Abu Dhabi and appointed a senior executive to build its business in the Gulf region, the U.S. firm said on Wednesday. Co-CEO Drew McKnight told Reuters in an interview that Charles Spetka has been appointed head of the Middle East and North Africa to lead its regional business. Harry Steel, a managing director at Fortress based in London, will also relocate to Abu Dhabi to lead distribution, he said. Companies such as Fortress are seeking co-investment opportunities in the Gulf region across private credit, real estate and asset-based strategies as regional economies diversify from oil and gas. Spetka is on the boards of Fortress portfolio companies, including Mammoth Freighters and Aspire MRO. The Abu Dhabi office will house two dedicated teams, one focused on consumer finance and the other on Fortress's multi-manager investment business, with staff expected to be hired locally as well as relocated from London, New York and Asia. Fortress, in which Abu Dhabi sovereign wealth fund Mubadala has a majority stake, plans to expand its local team to support origination, underwriting and asset management, with a focus on consumer finance and its multi-manager business. The announcement coincides with U.S. President Donald Trump's four-day tour of the Gulf, marked by lavish ceremonies and a flurry of business deals, including Saudi Arabia's $600 billion pledge to invest in the United States and $142 billion in American arms purchases. Fortress is eyeing Saudi Arabia as a key growth market, as the kingdom ramps up infrastructure spending under its Vision 2030 programme. "I think the opportunity in Saudi particularly on the consumer finance side, is immense... if you look at what the kingdom's plans are from an infrastructure perspective, they're probably more capital constrained, and in terms of their banks, really need people like this to come in," McKnight said. A consortium led by Mubadala Capital, a subsidiary of Abu Dhabi's Mubadala Investment Company, acquired a 68% stake in Fortress last year, though the U.S. firm says it retains full autonomy over investment processes, decision-making, personnel and operations. Last month, Mubadala Investment Company entered into a $1 billion strategic partnership with Fortress to invest in private credit. Sign in to access your portfolio
