Hedge Fund - Fortress Investment Group

Fortress Investment Group originated in 1998 as a private equity firm founded by Wesley R. Edens, a former partner at BlackRock Financial; Robert Kauffman, a managing director at UBS; and Randal A. Nardone, also a managing director at UBS. The firm's private equity funds achieved a remarkable 39.7% return from 1999 to 2006, prompting its expansion into hedge funds. Four years later, Princeton graduate Michael Novogratz and Pete Briger, both former partners at Goldman Sachs, joined Fortress to oversee its hedge funds, alongside new ventures into real estate-related investments and debt securities.

Mr. Drew McKnight serves as Co-Chief Executive Officer and Managing Partner based in Dallas. He plays a pivotal role on the Leadership Committee, serves on multiple investment committees, and leads the firm's Diversity & Inclusion Committee. Before joining Fortress in February 2005, Mr. McKnight held a key position at Fir Tree Partners, where he managed analysis and trading across high-yield and convertible bonds, bank debt, derivatives, and equities for the value-based hedge fund. Prior to Fir Tree, he gained valuable experience at Goldman, Sachs & Co. in Leveraged Finance and the Distressed Bank Debt trading group. Mr. McKnight holds positions on the Board of Advisors for the Center for Politics at the University of Virginia, the Center for New American Security, SMU’s Cox School of Business Alternative Asset Management Center, and the UT Southwestern Medical Center President’s Advisory Board. Additionally, he is a member of the Council on Foreign Relations. He earned a B.A. in Economics from the University of Virginia.

Mr. Joshua Pack serves as Co-Chief Executive Officer and Managing Partner based in Dallas. He plays a crucial role on the Leadership Committee, contributes to several investment committees, and leads the firm’s Environmental, Social, and Governance (ESG) initiatives. With over 27 years of experience in alternative asset investing across multiple credit cycles, Mr. Pack has been instrumental in the growth of the Fortress Credit Funds since its inception in 2002. He has held key leadership and Chief Investment Officer (CIO) roles in private credit, private equity, real estate debt, net lease, distressed, and opportunistic investing. Before joining Fortress, Mr. Pack served as Vice President at Wells Fargo & Co., and prior to that, he was Vice President at American Commercial Capital, an independent specialty finance company acquired by Wells Fargo & Co. in 2001. Mr. Pack attended the United States Air Force Academy and earned a B.A. in Economics from California State University, San Marcos.

Fortress Investment Group is a prominent hedge fund managing assets for 345 clients with total discretionary assets under management (AUM) amounting to $79.96 billion. Their most recent 13F filing for Q1 2024 reported holdings of $583.69 million in managed 13F securities, with a top 10 holdings concentration reaching 100.0%. The largest holding in their portfolio is New Fortress Energy LLC, with shares held totaling 13,399,317.