|Fortress Investment Group (NYSE:FIG) has launched a macro hedge fund focused on Asia, joining other industry titans like GLG Partners and Soros Fund Management. Fortress established an office in Singapore last October and has placed Adam Levinson – its co-chief investment officer of global macro hedge funds – in the new office to direct its Asia-specific macro trading activities, according to an article from Reuters.|
Fortress Investment Group currently has a team of approximately 10 employees in Singapore. The firm plans to expand its Asia-based investment team, while also to growing the new hedge fund’s assets to $500 million. As of December 31st, 2010 Fortress had $44.6 billion in AUM – up 42% from $31.5 billion as of December 31st, 2009.
Fortress Investment Group is a global alternative investment and asset management firm, which became public in 2009.