Fortress closes $5bn in fund commitments

Fortress Investment Group has closed on third party commitments worth $5 billion for its latest two private equity funds.

US alternative asset manager Fortress Investment Group has raised $5 billion (€3.6 billion) from limited partners for its latest funds, a $5 billion private equity fund and a $1 billion co-investment fund.

In May, Fortress said it had raised $2.4 billion for Fortress Investment Fund V, for which it would cap third-party commitments at $4 billion but include an additional $1 billion from Fortress employees and affiliates.

Fortress’ statement released today did not contain information as to the new funds’ limited partners and investment strategies. The firm did not immediately return a request for comment.

Founded in 1988, Fortress manages approximately $36 billion in assets across private equity funds, hedge funds, real estate and publicly traded alternative investment vehicles.

In February, the firm became the first alternative investment manger to list a portion of its management company on the New York Stock Exchange.