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Fortress aims to raise $5 billion by end of 2010

|Includes:Fortress Investment Group LLC (FIG)

Dan Mudd, the CEO of global alternative asset manager Fortress Investment Group (NYSE: FIG), recently stated that he expects that the firm will successfully raise $5 billion in new capital by the end of 2010. As of early November, the firm had already locked in $4.6 billion of his target. According to Reuters, Fortress has increased its involvement in Japan over the past year, and plans to re-focus its fundraising efforts on the Middle East and Asia in the future. In the past, most of the firm’s capital has come from European and North American investors.

Fortress Investment Group is a global alternative investment and asset management firm founded in 1998 by BlackRock veterans Wesley Edens, Robert Kauffman and Randal Nardone. The firm manages private equity funds, hedge funds, and publicly traded alternative investment vehicles, as well as traditional asset management products through its Logan Circle Partners subsidiary.

Stocks: FIG