Fortress Investment Group Appoints Leadership for New Client Solutions Group
People | Dec 09, 2024 | Fortress Investment Group LLC (NYSE:FIG)
Fortress Investment Group has announced key leadership changes as it introduces a new Client and Product Solutions Group (CPSG) to enhance its client services and coverage, replacing the previous Capital Formation Group (CFG). Spearheading this initiative, Fortress veterans Scott Werthamer and newly joined Seth Ruthen will serve as co-heads of the CPSG. This strategic realignment underscores Fortress's commitment to expanding its product offerings and geographic reach. As part of this effort, the firm aims to bolster its Private Wealth and Insurance Solutions businesses. The CPSG will focus on diversifying the sources and types of capital Fortress raises, facilitating a broader range of investment opportunities. Fortress veterans Peter Hausmann and Maggie Rosengarten have also been appointed as Co-Heads of Institutional Sales within CPSG. These appointments come at a time when Fortress anticipates raising over $11 billion in 2024, marking its most successful year of fundraising, aided by its Private Wealth Solutions unit. This is in line with Fortress's ongoing efforts to grow its investor base and capitalize on new market opportunities.
Sectors
- Investment Management
- Private Equity
- Financial Services
Geography
- United States – Fortress Investment Group is based in the United States and operates as a global investment manager.
Industry
- Investment Management – Fortress Investment Group is a highly diversified global investment manager, focusing on credit, real estate, private equity, and permanent capital investment strategies.
- Private Equity – The article discusses the strategic initiatives and leadership appointments within Fortress, a significant player in the private equity sector.
- Financial Services – The article focuses on thriving financial service operations centering on client solutions, wealth, and insurance.
Financials
- $11 billion – The expected amount of investable capital Fortress plans to raise in 2024.
- $49 billion – Assets under management by Fortress as of September 30, 2024.
- $1 billion – Amount raised through Fortress Private Wealth Solutions, a business created in December 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortress Investment Group | Company | Investment Manager | A leading global investment manager, managing $49 billion of assets across credit and real estate, private equity, and permanent capital investment strategies. |
| Scott Werthamer | Co-Head of Client and Product Solutions Group | Person | 17-year veteran at Fortress, previously Deputy Head of CFG. |
| Seth Ruthen | Co-Head of Client and Product Solutions Group | Person | Newly appointed co-head, joins Fortress from Apollo Global Management. |
| Peter Hausmann | Co-Head of Institutional Sales | Person | Fortress veteran with a focus on institutional sales. |
| Maggie Rosengarten | Co-Head of Institutional Sales | Person | Fortress veteran focused on client relationships. |
| Todd Ladda | Outgoing Global Head of Capital Solutions | Person | Departing after 18 years, has been instrumental in capital solutions. |
| Drew McKnight | Co-CEO and Managing Partner | Person | Co-CEO at Fortress, involved in strategic decisions. |
| Josh Pack | Co-CEO and Managing Partner | Person | Co-CEO at Fortress, overseeing strategic initiatives. |
| Jack Neumark | Managing Partner | Person | Managing Partner at Fortress, supporting management decisions. |