Fortress Investment Group has completed the acquisition of Logan Circle Partners, a fixed income asset manager.
The acquisition, which was announced in February 2010, expands Fortress’s investment management business to include traditional strategies.
With Logan Circle, Fortress has in excess of USD40bn of assets under management.
Daniel Mudd, Fortress’s chief executive officer, says: "We are pleased to complete the acquisition of Logan Circle, which will enable Fortress to better meet the evolving needs of our global investors through a broader range of credit investment opportunities. Logan Circle’s team brings exceptional fixed income knowledge, skills and experience to Fortress, significantly adding to our already extensive capabilities. As we expand our investment offerings, as always our focus will remain squarely on meeting the needs of our investors."
