Fortress Investment Group is rebranding its Capital Formation Group (CFG) and has installed two managing partners to co-head the unit in a reorganization of the firm’s client and product solutions function.
Scott Werthamer and Seth Ruthen will globally lead the new Client and Product Solutions Group (CPSG), formed to replace CFG, and oversee the firm’s fundraising, relationship management and sales, private wealth solutions business, product specialists, client service, and client marketing teams. Werthamer, who has been with Fortress since 2008, previously serving as deputy head for the CFG team, while Ruthen is set to join on January 6, 2025, from Apollo Global Management, where he most recently served as partner.
Managing Directors Peter Hausmann and Maggie Rosengarten also join CPSG as co-heads of institutional sales. Additionally, Fortress said Todd Lada, global head of capital solutions, is exiting in December 2024 after 18 years with the firm.
The New York-based investment manager expects to raise over $11B in capital for 2024, in its most successful fundraising year to date. As of September 30, Fortress manages approximately $49B in total assets.
Source: https://www.fortress.com/media/2024-12-09-fortress-announces-key-leadership-appointments-establishes-client-and-product-solutions-group-to-enhance-client-coverage-and-services
