Sat, Apr 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Fortress Investment Group announces Thomas Chan Soo Kang as President of Fortress Asia

Thursday, December 23, 2010
Opalesque Industry Update - Fortress Investment Group LLC (NYSE: FIG) announced that Thomas Chan-Soo Kangwill join the firm as President, Fortress Asia. Mr. Kang will become a member of Fortress's management committee and will have responsibility for business development, capital formation, strategy and management/administration in the Asia region. Mr. Kang will be based in Fortress's newly opened Singapore office, and will report directly to Fortress CEO, Daniel Mudd.

"Tom's role underscores our deep commitment to the region and will support the continued strategic expansion of our Asia business," said Mudd. "Tom brings an exceptional depth of experience to our team, including building and running major investment companies and establishing one of Korea's first domestic private equity funds. I am confident that Tom's contributions will help us achieve our objectives of bringing more Fortress capabilities to a growing base of investors in Asia and capitalizing on the exceptional investment opportunities we see in the region."

Mr. Kang has over 25 years of experience in the investment management industry, and served most recently as CEO of Kang & Company, an investment firm. Prior to founding Kang & Company, he served as Chairman and CEO of Seoul Securities, a Korea-based investment firm that was majority-owned by Soros Fund Management LLC. Under Mr. Kang's leadership, Seoul Securities expanded from a retail-focused brokerage firm into a full-service investment management company with investment banking and money management capabilities.

Before joining Seoul Securities, Mr. Kang served as a Managing Director at BT Wolfensohn, where he specialized in mergers and acquisitions, focusing on financial services companies. He also served as a member of the boards of SK Holdings, KB Financial Group and the Bloomberg Asia-Pacific Advisory Board.

Fortress recently announced the establishment of an office in Singapore, which will serve as a key hub of the firm's investment and business development activities in Asia. Adam Levinson, Co-CIO of the firm's flagship macro funds, will lead Fortress's Asia-specific macro trading activities from Singapore beginning in early 2011. The company also has established investment and capital formation teams in Tokyo and Sydney. In June 2010, Fortress closed its first yen-denominated opportunity fund at its cap of $800 million.

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n