Fortress Investment Group has named Stuart Bohart as president of liquid markets and senior managing director of strategy. He will become a member of the company's operating and management committees, and will have responsibility for all non-investment activities of the firm's liquid markets business.
Since 1997, Mr Bohart held positions of increasing responsibility at Morgan Stanley, most recently as co-head of Morgan Stanley Investment Management (MSIM). In this role, he had direct management responsibility for hedge funds, asset allocation, long-only equity and fixed income and fund of funds, and served as chief investment officer of equities and chair of the MSIM risk committee.
Previously at Morgan Stanley, Mr Bohart served as head of alternatives for MSIM, with responsibilities for hedge fund activity, including the management of FrontPoint Partners and stakes in Avenue Capital, Traxis Partners and Lansdowne Partners. He also served for two years as global head of Morgan Stanley Prime Brokerage.
Daniel Mudd, CEO of Fortress, said: “Stu brings a unique depth of experience to our organization, having built and managed one of the industry’s largest alternatives platforms, and his addition to our leadership team will allow us to achieve two important objectives. First, as president of liquid markets, Stu will immediately take on management responsibility for running the business, which will allow Michael Novogratz and Adam Levinson, co-CIOs of our Macro funds, and Bill Callanan, CIO of our Commodities Funds, to focus exclusively on investments. This has been a key corporate objective.
“Second, Stu will play a key role identifying and executing on strategic opportunities to build our business. I am confident that Stu’s contributions will help drive continued, meaningful progress at Fortress.”