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Fortress Hires Goldman Sachs’ Shell to Start Growth Equity Unit

April 1 (Bloomberg) -- Fortress Investment Group LLC said it hired David Shell to start a new growth equity business for institutional investors at its Logan Circle Partners unit.

Shell previously was co-chief investment officer of the growth equities investment team at Goldman Sachs Asset Management, where he was responsible for about $20 billion in client assets, New York-based Fortress said today in a statement. The appointment of Shell, who will be based in Tampa, Florida, marks the addition of institutional equities at Logan Circle, which manages about $21 billion across 15 fixed-income strategies, Fortress said.

To contact the reporter on this story: Sree Vidya Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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