Fortress Plans Second Asia Fund

Oct 21 2011 | 9:34am ET

Fortress Investment Group, the U.S. based hedge fund manager with $44 billion AUM, plans to launch a second Asia fund next year.

Adam Levinson, CIO of the Fortress Asia Macro Funds, confirmed the company’s plans to reporters in Singapore on Friday, reports Reuters.

"We're starting a vol-based convexity fund sometime next year," he said, without elaborating.

Such funds are intended to protect investors from market volatility and tail risks.

The Fortress Asia Macro Fund was down 2.5% in September and 1.23% YTD.

Reuters says Levinson, a former Tudor Investment Corp fund manager and Goldman Sachs prop. trader, told an earlier conference at a Singapore university that Europe’s debt situation is influencing Asia’s economy. He characterized the European situation as fluid, saying it could end in either a somewhat positive outcome or a complete mess.

"In either case you are destined for a significant recession in Europe next year," he said, adding that would cement the case for low interest rates around the world.


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note