NEW YORK--(BUSINESS WIRE)--Fortress Investment Group LLC (NYSE:FIG) was named “Institutional Hedge Fund Manager of the Year” by Institutional Investor at the magazine’s 12th Annual Hedge Fund Industry Awards. The award recognizes outstanding achievement across Fortress Credit and Liquid Markets hedge fund strategies, including the firm’s flagship Drawbridge Special Opportunities and Fortress Macro funds. Fortress has previously been recognized by Institutional Investor as “Discretionary Macro-Focused Hedge Fund of the Year” for 2012, and “Credit-Focused Fund of the Year” for both 2011 and 2010.
The award’s criteria included 2013 investment returns, risk management, investment discipline and selection, portfolio management, performance track record, stability of investment team, investor relations and infrastructure.
The Drawbridge Special Opportunities Fund and Fortress Macro Fund recorded net returns of 18.4% and 14.1%, respectively, in 2013. As of March 31, 2014, Fortress managed nearly $14 billion across its Credit and Liquid Markets hedge fund strategies on behalf of institutional investors and private clients worldwide.
Fortress Investment Group LLC is a leading, highly diversified global investment firm with approximately $62.5 billion in assets under management as of March 31, 2014. Founded in 1998, Fortress manages assets on behalf of over 1,500 institutional clients and private investors worldwide across a range of private equity, credit, liquid hedge funds and traditional asset management strategies. Fortress is publicly traded on the New York Stock Exchange (NYSE:FIG). For additional information, please visit www.fortress.com.