Fortress Investment Group LLC (Fortress) has  announced the acquisition of a global multi-manager hedge fund offering from PineBridge Investments and the hiring of Jeff Runnfeldt as Chief Investment Officer of a new global multi- manager investment platform, the Fortress Multi-Manager Group.

Founded in 2021, the acquired global multi-manager hedge fund platform was previously owned by PineBridge Investments, through a strategic partnership with BMO Global Asset Management. As of the closing, this platform has been renamed Fortress Multi-Manager Group.

Runnfeldt has spent more than two decades in the multi-manager hedge fund industry, most recently as Global Head of Equities at Balyasny Asset Management. Previously, he was Head of Global Equities at Citadel. Mr. Runnfeldt began his career as a Bank Examiner at the Federal Reserve Bank of San Francisco.

Fortress co-CEOs Drew McKnight and Josh Pack said in a joint statement, “We are pleased to announce the acquisition of this multi-manager platform and to welcome Jeff, Todd and team to Fortress. We look forward to providing investors with the benefits of a liquid, diversified, and market neutral approach to multi-manager investing. As a solution provider for our LPs, we regularly evaluate opportunities to enhance our offerings in response to their needs; we are confident that Jeff’s addition to the strong team that Todd has built will create a world class, market neutral offering aligned with the evolving needs of our sophisticated, global client base.”