Fortress closes second Japan distress fund at $1.6b
Fortress Investment Group has closed its second distress fund, Fortress Japan Opportunity Fund II, at its hard cap of JPY130 billion ($1.65 billion). It is the successor fund to Fortress Japan Opportunity Domestic Fund (FJOF) which closed in June 2010 at $800 million.
The funds, which focus on real estate-related debt and other assets in Japan, seek to capitalize on the dynamics related to deleveraging by financial institutions and near-term debt maturities. As of...
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