Fortress Unveils Asia Macro Fund, Seeks $500M

Mar 10 2011 | 12:59pm ET

Fortress Investment Group has launched its Asia-focused macro hedge fund, helmed by its global macro co-chief investment officer.

The new fund debuted on scheduled this month, Bloomberg News reports, seeded by the firm and a handful of investors. But Fortress has big plans for the Asia Macro Fund, the first based out of its new Singapore office.

Fortress hopes to raise as much as $500 million for the fund, which is run by Adam Levinson. Levinson recently relocated from New York to the city-state to set up the new office, which already accounts for a big chunk of the firm's macro trading.

"Asia is at the top of our list of priorities and high on every investor's list," Fortress CEO Daniel Mudd told Bloomberg. "The Asia region has long been a key focus of our liquid markets business. We are already trading about 40% of our Fortress Macro Fund out of Singapore, and have begun to ramp up additional Asia-specific strategies."

Fortress, which manages about $45 billion, expects to begin seeing major inflows into the new Levinson-led fund next month as investors make new allocations.

The new fund, which has been in the works since at least October, when Levinson's move to Singapore was announced, seeks to profit from fundamental trends linked thematically to Asia.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...