New York-Based $53 Billion Fortress Investment Group 23-Year Veteran & Co-CEO Josh Pack Dies at Age 51, Joined Fortress Investment Group in 2002 with Inception of Fortress Credit Funds Business, Drew McKnight is Co-CEO & 15-Year Veteran Jack Neumark Appointed as New Co-CEO
30th September | Hong Kong
New York-based $53 billion Fortress Investment Group 23-year veteran & Co-CEO Josh Pack has died at age 51. Josh Pack joined Fortress Investment Group in 2002 with the inception of Fortress Credit Funds business. Drew McKnight is Co-CEO & 15-year veteran Jack Neumark has been appointed as the new Co-CEO. In 2025 April, Abu Dhabi sovereign wealth fund Mubadala Investment ($302 billion AUM) announced to allocate $1 billion in strategic partnership with New York-based $50 billion Fortress Investment Group to invest in private credit, asset-based lending, real estate strategies & special situations co-investment opportunities. In 2024, Mubadala Investment subsidiary Mubadala Capital acquired 90.01% equity of Fortress Investment Group from SoftBank, and a buyout from Fortress management team owning 32% & Mubadala Capital owning 68% post-transaction. Fortress Investment Group (29/9/25): “It is with profound sadness that we shared today with our colleagues and investors the news of the untimely passing of our Co-CEO and Managing Partner, Josh Pack. We are devastated by this loss. Josh was a gifted investor, a thoughtful strategist, a compassionate leader—and a deeply cherished friend to many. A member of the Fortress family for over 23 years, Josh left an indelible mark on our institution. He cared deeply for his team, and that care was returned in kind. Most importantly, Josh was a devoted husband and father. We extend our heartfelt condolences to his family and ask that their privacy be respected during this tragic time. We are doing all we can to support the Pack family. Everyone at Fortress is grieving the loss of one of our most exceptional leaders. Despite our sorrow, our commitment to our investors remains unwavering. We know the best way to honor Josh’s legacy is to continue safeguarding our investors’ capital with the same focus and discipline that has defined Fortress for more than 25 years. We have built a business that is resilient and deep with seasoned talent that will help us to move forward. Drew McKnight, Co-CEO and Managing Partner, will continue to lead the firm, and Jack Neumark will step into the role of Co-CEO and Managing Partner alongside Drew. In recognition of the importance of experience during times of stress, our Executive Chairman Pete Briger will deepen his engagement with the firm and its operations for the immediate future. Pete’s seasoned leadership and deep familiarity with our team, investments, and culture will be invaluable as we move forward. We are deeply grateful for the support of our investors and partners during this difficult time. Please join us in keeping the Pack family in your thoughts and prayers.” Joshua Pack – Joshua Pack is the Co-CEO and Managing Partner of Fortress Investment Group, a global alternative asset management firm with more than $50 Billion under management. Mr. Pack is also the Co-CIO of many of the Funds managed by Fortress. He is a member of the Fortress Leadership and Management Committees and is the chair of the ESG Committee. For over 28 years, Mr. Pack has been active in alternative assets and credit investments through multiple economic cycles. Since joining the Fortress Credit Funds business at its inception in 2002, Mr. Pack has held leadership roles in private credit, private equity, real estate, real estate debt, net lease, distressed and opportunistic investing. Prior to joining Fortress, Mr. Pack was a Vice President with Wells Fargo & Co. Before that, Mr. Pack was a Vice President with American Commercial Capital, an independent specialty finance company focused on corporate and real estate lending that was subsequently acquired by Wells Fargo & Co. in 2001. Mr. Pack is a director on multiple corporate and philanthropic boards and actively promotes well-being initiatives for this country’s veteran population. Mr. Pack attended the United States Air Force Academy and received a B.A. in Economics from California State University, San Marcos. He lives in Dallas, Texas, with his wife and four children. Fortress Investment Group – Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $53 billion of assets under management as of June 30, 2025, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts.
“ New York-Based $53 Billion Fortress Investment Group 23-Year Veteran & Co-CEO Josh Pack Dies at Age 51, Joined Fortress Investment Group in 2002 with Inception of Fortress Credit Funds Business, Drew McKnight is Co-CEO & 15-Year Veteran Jack Neumark Appointed as New Co-CEO “
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Abu Dhabi $302 Billion Sovereign Wealth Fund Mubadala Investment Allocates $1 Billion in Strategic Partnership with New York-Based $50 Billion Fortress Investment Group to Invest in Private Credit, Asset-Based Lending, Real Estate Strategies & Special Situations Co-Investment Opportunities, Subsidiary Mubadala Capital Acquired 90.01% Equity of Fortress Investment Group from SoftBank in 2024 & Buyout from Fortress Management Team Owning 32% & Mubadala Capital Owning 68% Post-Transaction
28th April 2025 – Abu Dhabi sovereign wealth fund Mubadala Investment ($302 billion AUM) has announced to allocate $1 billion in strategic partnership with New York-based $50 billion Fortress Investment Group to invest in private credit, asset-based lending, real estate strategies & special situations co-investment opportunities. In 2024, Mubadala Investment subsidiary Mubadala Capital acquired 90.01% equity of Fortress Investment Group from SoftBank, and a buyout from Fortress management team owning 32% & Mubadala Capital owning 68% post-transaction. Announcement (24/4/25): “Mubadala Investment Company (“Mubadala”), a global sovereign investor, and Fortress Investment Group (“Fortress”), a global investment manager, today announced the signing of a $1 billion strategic partnership (the “Partnership”) focused on credit and special situations co-investment opportunities. The Partnership seeks to deploy $1 billion from Mubadala in a range of Fortress’s existing private credit, asset-based lending and real estate strategies alongside Fortress’s existing pools of capital. Mubadala, through its asset management subsidiary Mubadala Capital, holds a significant stake in Fortress … … In May 2024, Fortress, Mubadala, and Mubadala Capital announced the completion of the acquisition of 90.01% of the equity of Fortress. At close, Fortress management owned a 32% equity interest in the company in a class of equity entitling Fortress management to appoint a majority of seats on the board; a consortium led by Mubadala Capital, Mubadala’s asset management subsidiary, owned 68% of Fortress equity. Fortress is an independent investment manager, with Fortress management holding full autonomy over investment processes and decision making, personnel and operations. The Fortress investment is a strong example of Mubadala Capital’s growth strategy as a global asset manager, which is predicated on developing long-term relationships with leading GPs, agreeing on a fair valuation for their business, aligning with management while empowering them to continue managing their firm with access to the Mubadala ecosystem through LP capital and fundraising support. The company intends to continue executing against this strategy in a number of new business lines and have established an internal team entirely focused on growing inorganically through strategic partnerships and acquisitions. Fortress’s private credit, asset-based lending and real estate strategies combine sourcing, structuring and execution capabilities across the capital structure. Direct corporate credit and asset-based financing have been at the core of Fortress’s offering for more than two decades, with more than $100 billion deployed across thousands of transactions, making Fortress one of the most experienced managers in the market today. Fortress has longstanding real estate debt and equity investing and asset management experience across the globe, with a fully integrated approach covering origination, acquisition, underwriting and risk management.”
Omar Eraiqaat, Deputy CEO of Credit and Special Situations at Mubadala: “This strategic partnership with Fortress builds upon our existing shareholding and underscores the strength and depth of the relationship between our two institutions. Private credit continues to play an increasingly vital role in global capital markets, offering attractive risk-adjusted returns and providing flexible financing solutions for businesses. This partnership leverages the complementary strengths of both Mubadala and Fortress, providing access to a diverse range of credit and real estate strategies.”
Fabrizio Bocciardi, Head of Credit Investments at Mubadala: “We look forward to continuing to work with the Fortress team to realize the significant benefits of this partnership. As both a significant Fortress shareholder and a long-term investor in private debt, this partnership with Fortress is a win-win, anchored in attractive and fast-growing credit asset classes, where Fortress has longstanding investment and asset management experience.”
Drew McKnight, Co-CEO of Fortress: “This Partnership builds on our strong relationship with Mubadala and allows them to invest in a range of our core strategies. In conversations with our partners, we increasingly hear that they want tailored and scalable investment solutions that can enhance returns across the credit spectrum. At the same time, we’re seeking to expand borrowers’ access to capital by securing larger and more diverse pools of capital from investors. We’re pleased to be able to deliver on both those objectives through this Partnership with Mubadala.”
Josh Pack, Co-CEO of Fortress: “Across more than 25 years of being a pioneer and innovator in private capital, we’ve consistently delivered best-in-class returns and solutions to our limited partners. This Partnership with Mubadala will allow us to bring more scale to our franchise, with additional capital with which to execute our strong pipeline of private credit, asset-based lending, and real estate finance transactions.”
Fortress Investment Group – Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $50 billion of assets under management as of 31 December 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
Mubadala Investment Company – Mubadala Investment Company is a global sovereign investor managing a $302bn portfolio that spans six continents with interests in multiple sectors and asset classes. The company leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Mubadala Capital – Mubadala Capital is the alternative asset management subsidiary of Mubadala Investment Company, a c. $302 billion global investor headquartered in Abu Dhabi, UAE. Mubadala Capital manages over $30 billion of assets through its four investment businesses spanning various private market strategies, including private equity, special situations, solutions, and venture capital. Mubadala Capital has a team of over 200 spanning 5 offices in Abu Dhabi, New York, London, San Francisco, and Rio de Janeiro. Mubadala Capital aims to be the partner of choice for investors looking for attractive and differentiated risk-adjusted returns across various private markets and alternative asset classes.
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