Fortress Investment Group Merges Vannin Capital Into Legal Assets Team
Fortress Investment Group, based in New York City, on October 5, 2001, announced the integration of Vannin Capital into Fortress Legal Assets. Fortress has owned Vannin since 2019, but this action moves the two entities closer. The report was posted on Businesswire. It strengthens the litigation finance market of both companies.
Several employees of Vannin will transfer to work for Fortress Investment Group. These workers will bring their knowledge of the litigation finance market to Fortress. The change will happen immediately. Fortress Investment Group and the merger will not affect the current investments of Vannin.
In the announcement which came in both New York and London, Jack Neumark the managing director of Fortress Legal Assets business stated that this is the logical path for the two companies to consolidate their efforts. The purpose is to present a global Legal Assets team that relies upon the experience of the employees, and the power generated by the merger.
Fortress Investment Group traces its beginnings to 1998. It has accumulated assets the firm manages totaling over 50 billion dollars. The dollar figure has increased over 5 billion dollars in the last year alone. The funds are from institutions and private individuals across the globe. The investment strategies involve private equity, credit markets, real estate, and a strong investment of capital.
The investments managed by Fortress go across the globe. The firm is constantly seeking ways to further increase the value of its holdings. This merger with Vannin is just part and parcel of the firm’s strategy to be at the forefront of international finance. Refer to this article to learn more