Logan Circle Partners Announces Launch of Growth Equities Business and Formation of Senior Portfolio Management and Research

  Logan Circle Partners Announces Launch of Growth Equities Business and
  Formation of Senior Portfolio Management and Research Team

Business Wire

NEW YORK -- July 1, 2013

Fortress Investment Group LLC (NYSE: FIG) today announced that the firm’s
Logan Circle Partners subsidiary has launched a growth equities investment
business and added four new members to the business’s senior portfolio
management and research team. Led by its Chief Investment Officer, David
Shell, the business marks the strategic addition of an institutional equities
capability for Logan Circle, which currently manages approximately $22 billion
across 15 fixed income strategies. Mr. Shell has been joined by Joseph
Hudepohl, Scott Kolar, Warren Fisher and Gregory Frasca to form a senior
growth equities portfolio management and research team based in Tampa, FL.

The growth equities team is focused on investing and managing concentrated
portfolios of publicly traded U.S. equities for institutional clients.
Currently, the business manages four investment strategies, seeded by
Fortress, which vary in concentration and capitalization focus.

Mr. Shell previously served as Co-Chief Investment Officer of the Growth
Equities Investment team at Goldman Sachs Asset Management, leading portfolio
management and investment research for over $20 billion of client assets. Mr.
Hudepohl, Mr. Kolar and Mr. Fisher previously served as portfolio managers,
and Mr. Frasca as a research analyst, on the Growth Equities team at Goldman
Sachs Asset Management.

“The addition of an institutional equities capability marks an important
milestone in Logan Circle’s build-out of a broader traditional asset
management platform,” said Jude Driscoll, Chief Executive Officer and Chief
Investment Officer of Logan Circle Partners. “We are pleased to bring our
clients best-in-class growth equities offerings managed by a deeply
experienced team with a strong record of investment performance.”

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global
investment firm with $56 billion in assets under management as of March 31,
2013. Founded in 1998, Fortress manages assets on behalf of over 1,500
institutional clients and private investors worldwide across a range of
private equity, credit, liquid hedge funds and traditional asset management
strategies. Fortress is publicly traded on the New York Stock Exchange (NYSE:
FIG). For additional information, please visit www.fortress.com.

Contact:

Fortress Investment Group LLC
Gordon E. Runté, 1-212-798-6082