Initially founded as a private equity firm, Fortress Investment Group is an investment management firm headquartered in New York City.
Fortress became the first Wall Street investment firm to enter the Bitcoin and cryptocurrency space when a filing with the US Securities and Exchange Commission (SEC) revealed that it had invested in $20 million worth of bitcoin in 2013. The firm subsequently partnered with Benchmark Capital, Ribbit Capital and Pantera Capital to create the Pantera Bitcoin Partners in 2014.
In 2019, Fortress Investment Group offered to buy back Mt. Gox creditors’ claims for their lost bitcoin following the exchange’s collapse in 2014. Fortress said it would review each claim individually and could offer $900 per BTC, which is about 200% of the bankruptcy value.
At the end of Q1 in 2019, Fortress Investment Group managed $39.2 billion worth of assets on behalf of 1,750 institutional clients and private investors worldwide.