Fortress Seeks More Than $1 Billion for Its Second Lending Fund
- Firm is said to plan an accelerated fundraising for vehicle
- Its $1.9 billion debut lending fund to be fully invested soon
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Fortress Investment Group LLC is seeking more than $1 billion for its second lending fund, according to people with knowledge of the matter.
The New York-based firm has discussed the vehicle, known as Fortress Lending Fund II LP, with prospective investors and is targeting an accelerated fundraising, meaning it could stop accepting new capital by the fall, said the people, who asked not to be identified because the talks are private. It plans to deliver an annualized return of 12% to 15% before fees, one of the people said.