New Business to Manage Alternative Investment Products for Retail and High Net Worth Investors
NEW YORK, December 01, 2022--(BUSINESS WIRE)--Fortress Investment Group LLC ("Fortress") today announced the formation of Fortress Private Wealth Solutions, a business that will bring over two decades of Fortress institutional-grade investment experience and expertise to a growing segment of individual investors seeking greater access to alternative asset classes and private markets. Fortress Private Wealth Solutions is part of the firm’s Credit and Real Estate business, which manages over $45 billion across a broad range of alternative asset classes on behalf of many of the world’s largest and most sophisticated institutional investors.
The new business is co-headed by Managing Directors Nils Wilson and Adam Bobker. Mr. Wilson joined Fortress in 2005 and has served as a Managing Director in the firm’s Capital Formation Group since 2010. Mr. Bobker joined Fortress in November of this year, following over two decades with BlackRock, where he served most recently as Managing Director and Head of the firm’s Private Wealth Advisory Group and Alternative Investment Sales. Mr. Wilson and Mr. Bobker report to Todd Ladda, Fortress Global Head of Capital Formation and Investor Relations.
"We have seen a dramatic increase in demand from individual investors for access to alternative investment products and the type of risk and return profiles found predominantly in private markets," said Mr. Wilson and Mr. Bobker in a joint statement. "With over two decades of experience investing across a wide range of alternative asset classes, and an exceptional investment track record through economic cycles, we believe Fortress is well-positioned to answer this demand for institutional-grade investment solutions tailored to the needs of individual investors."
Products created and managed by Fortress Private Wealth Solutions and its affiliates will be distributed through agreements with leading wirehouses, private banks, registered investment advisors ("RIAs") and independent broker/dealers. Third-party distribution of Fortress Private Wealth Solutions products will be supported by a dedicated internal sales and marketing team in addition to regional sales executives.
Mr. Wilson and Mr. Bobker will share responsibility for strategy, product development and distribution for the new business, and will oversee a growing team of business leads responsible for supporting third-party distribution. Key team hires to date include Rich Lesser, Managing Director and head of External East Coast Sales, and Jerome Hayden, Senior Vice President and head of the internal sales desk. Fortress expects to announce the appointment of additional sales and marketing leads in the coming months.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $45.7 billion of assets under management as of September 30, 2022, on behalf of over 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
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