Latest news with #FortressInvestment
CNBC
6 days ago
- Business
- CNBC
We're seeing a bifurcation of commercial real estate, says Fortress Investment Group Vice Chairman
Tim Sloan, Fortress Investment Vice Chairman and Co-Head of Global Real Estate, joins 'Closing Bell Overtime' to talk private credit opportunities, commercial real estate, the investing landscape, and more.
Zawya
14-05-2025
- Business
- Zawya
Fortress Investment Group establishes office in Abu Dhabi to advance global strategy
Abu Dhabi, UAE – Fortress Investment Group ('Fortress'), a leading global investment manager, today announced the opening of a new office in the Abu Dhabi Global Market (ADGM), and permission to undertake regulated activities through receipt of its Financial Services Permission from the ADGM Financial Services Regulatory Authority – marking a significant milestone in the firm's global expansion. The establishment of a permanent presence in Abu Dhabi—the capital of the United Arab Emirates and one of the world's most sophisticated financial centers—reflects Fortress's long-term view of the Gulf region as a key pillar of global capital formation and deployment. The new office will enable Fortress to expand its local footprint, deepen relationships with regional investors, and accelerate co-investment across private credit, real estate, and asset-based strategies. 'Our decision to establish an office in Abu Dhabi is a strategic step that reflects our conviction in the Gulf as a long-term investment and capital partner,' said Drew McKnight, Co-Chief Executive Officer and Managing Partner at Fortress. 'The region is increasingly influential in shaping the future of global private markets, and we are committed to being here—on the ground, fully engaged, and ready to invest alongside partners who share our long-term orientation.' The opening follows the April 2025 announcement of a $1 billion strategic partnership between Mubadala Investment Company and Fortress, focused on credit and special situations co-investment opportunities. The ADGM office will serve as a key hub for executing on that mandate and cultivating new opportunities across the region. 'Our global growth strategy is rooted in performance, alignment and solutions —and this expansion exemplifies that,' said Joshua Pack, Co-Chief Executive Officer and Managing Partner at Fortress. 'Being on the ground in the Gulf gives us a direct connection to some of the world's most forward-looking institutional partners and enables us to collaborate with greater scale and speed, and we look forward to further expanding our presence in the region in the years ahead.' Jack Neumark, President and Managing Partner at Fortress, added: 'Our new office in the ADGM will help us to accelerate our partnerships across the Gulf. The region's investment landscape is incredibly dynamic and evolving quickly, and we are excited to bring Fortress's strengths in private credit, real assets, and asset-based strategies to the region and to grow alongside our partners.' The ADGM office will be led by executives with deep regional and sectoral expertise. The firm plans to grow its local team to support origination, underwriting, and asset management across core strategies, while also serving as a regional gateway to Fortress's global investment capabilities. About Fortress: 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
