Fortress hires Citigroup exec Feig for liquid markets business

Fortress Investment Group has hired Jeff Feig, Citigroup’s global head of developed markets foreign exchange and a senior manager at Citi. Feig joins Fortress as a portfolio manager and co-CIO of the Fortress Macro Fund. He also will work as co-president of Fortress’s Liquid Markets business.

Press Release

Fortress Investment Group LLC (NYSE:FIG) today announced that Jeff Feig, Citigroup’s global head of developed markets foreign exchange and a senior manager at Citi, will join Fortress as a portfolio manager and co-CIO of the Fortress Macro Fund. Mr. Feig will also serve as co-President of Fortress’s Liquid Markets business. Mr. Feig joins Fortress to broaden the investment management talent at the $3.8 billion Fortress Macro platform as well as to lead and further develop a diversified, multi-fund liquid markets business.

“Jeff brings a remarkable skill set in foreign exchange and rates trading,” said Mike Novogratz, Fortress Principal, Director and co-CIO of the Fortress Macro Fund. “We have long been impressed with Jeff’s investment acumen as well as his leadership talent. We are very pleased that he has joined Fortress after a long and successful career at Citi.”

“With deep experience and unique investment management skills, Jeff will play a key role in furthering our business’s evolution into a more diversified group of high-performing, right-sized, liquid hedge funds centered around our flagship Fortress Macro Fund,” said Stu Bohart, co-President of Liquid Markets and co-CIO of the Fortress Partners Fund. “His expertise in global markets is an ideal fit for the macro fund and his experience with investors will be invaluable as we steadily grow our business, including in the retail alternative space.”

Mr. Feig worked for 25 years at Citi, spending the last decade leading Citi’s FX business. He is expected to finish his responsibilities at Citi in the near future and plans to join Fortress in the autumn.

In the last several months, Fortress has made significant investments in expanding capabilities in its Liquid Markets business. In January, the firm announced the launch of Fortress Affiliated Managers, an infrastructure and investment platform that will take ownership stakes in independent hedge funds managers. Graticule Asset Management Asia, a $2.9 billion platform focused on Asia-Pacific linked themes expressed across a range of instruments, asset classes and geographies, will be the first fund on the new platform. In April, Fortress announced the addition of the global, event-driven investment team from Centaurus Capital, which will be rebranded as the Fortress Centaurus Global Strategy. Additionally, the firm has recently hired the founder and CIO of Sonterra Capital, Tye Schlegelmilch, to help develop liquid equity strategies.

About Fortress

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.