Fortress Investment Group is owned by a private-equity group of investors, and it has principal investment teams including its Americas Private Equity Group which focuses on opportunistic, buyout, and distressed strategies in North and South America, Europe, and Asia. The firm’s $2.2 billion Credit Opportunities Group invests in corporate credit. Fortress is also exploring options to lease and take on about 300 new jobs, as well as allowing the firm to remain in the same location for about two decades.
“Dallas is a logical expansion for Fortress Investment Group given its attractive business environment, investment industry presence and talent,” include 300 new jobs for Dallas. The firm’s Dallas office will also be located at Prosperity Bank’s 1212 El Centro, Jr. Blvd., Suite 1000 location. The bank also secured a number of office upgrades to enhance the environment for the office.
Fortress Investment Group New York is the 11th largest of the 15 US OTC markets. The firm began operating in 2014. “We were attracted to the Dallas city for its strong sense of community, access to talent, competitive cost of living and quality of life, which we believe will be attractive to our employees and clients, Fortress Investment Group Chief Financial Officer Joseph DePaolo, said. The firm’s employees are top professionals who have been with it since founding its growing presence in Dallas strengthens the firm’s position as a premier investor across global capital markets.
According to firm’s website, the new office will employ approximately 100, with room for another 100 employees. In addition to the additional jobs, the project is expected to spur about $16 million in new investments to the area, with “a maximum of $47 million in direct employment” and another $15 million in new investments, the Dallas Business Journal reported.
The New York based company’s new office will occupy more than 25,000 square feet in the Dallas, Texas area. It will also be located closer to Lake Highlands and the Dallas Arts District, both of which are appealing to the fund manager. The new facility will accommodate growth for the firm’s investment teams including private equity, credit, and infrastructure products. In addition, the company will continue to provide financial support for organizations including nonprofits such as the Children’s Health Fund, Boys and Girls Clubs of Dallas, and two local Jewish day schools, Lakewood St. Andrews School and Samuell Grand Middle School. Go Here for related Information.