In a recent development, Fortress has acquired a multimanager hedge-fund platform from PineBridge Investments. The acquisition includes the appointment of Jeff Runnfeldt, a former executive at Citadel and Balyasny Asset Management, as the investment chief of the new unit, known as the Fortress Multi-Manager Group. This move highlights Fortress' interest in the buzziest trend in the hedge-fund industry. The acquisition of the hedge-fund platform and the appointment of a seasoned executive like Runnfeldt demonstrate Fortress' commitment to expanding its presence in the hedge-fund space. The Fortress Multi-Manager Group is expected to bring new investment opportunities and expertise to the firm. This acquisition positions Fortress to capitalize on the growing demand for hedge-fund investments and further solidify its position in the market. [5db8d218]