Fortress Investment Group LLC (“Fortress”) has announced that the operations of Vannin Capital, which it acquired in 2019, will be restructured into its Fortress Legal Assets business, effective immediately. As part of the restructuring, a number of Vannin Capital employees will transfer to Fortress. The change will have no impact on Vannin Capital’s existing investments, and Vannin Capital will remain the counterparty to its various litigation funding agreements.
“We are confident that this combination will further strengthen our leadership position in the litigation finance market, broadening our sourcing capabilities and bringing counterparties the benefits of a deeply experienced, fully-integrated, global Legal Assets team,” said Jack Neumark, Managing Director and head of the Fortress Legal Assets business. “We believe this represents a logical next step for our Legal Assets business and managed funds as a whole, which will now receive the full benefit of the expertise and relationships that the Vannin Capital employees have built over the last decade.”
Founded in 1998, Fortress manages $53.9 billion of assets under management as of June 30, 2021, on behalf of approximately 1,800 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.