Fortress Investment Group, the New York City-based investment management company, and Mount Kellett Capital, a financial planner and multi-strategy investment firm on Park Avenue, announced that they have formed a strategic alliance to become co-managers of the Mount Kellett investment funds and related accounts. Financial terms of the transaction were not disclosed, but Fortress did indicate via press release that Mount Kellett affiliates would continue to serve as general partner of the funds while Fortress affiliates will become special limited partners. The Wall Street Journal reported that Fortress would invest $200 million in Mount Kellett's funds, while, PERE reported Tuesday that Fortress would effectively acquire the funds and Mount Kellett's operating platform.
"Fortress has a world class Credit business, with exceptional people, disciplined investment acumen, a deep understanding of our strategies and a strong institutional framework," said Mark McGoldrick, Chief Investment Officer of Mount Kellett Capital. "We are very pleased to be partnering with Fortress. Our investors will benefit from the access and support of a global operational platform and the combined asset management expertise of the Mount Kellett and Fortress teams across the distressed and special situations spectrum."
"We are pleased to join with Mount Kellett and their experienced team of investment professionals who possess deep knowledge of special situations and opportunistic investing," said Peter Briger, Jr., Fortress Investment Group Principal and Co-Chairman of the Board of Directors. "In addition, we have worked with Mark McGoldrick for decades and are pleased to be able to do so again."
For more news and information visit Blumberg Partners.
No comments:
Post a Comment