The investment community mourns the unexpected passing of Josh Pack, co-chief executive and managing partner of Fortress Investment Group, at the age of 51. His death was announced by the company in a statement, although the cause remains undisclosed.
Fortress Investment Group and Josh Pack’s Legacy
Fortress Investment Group has a significant presence in asset management, with approximately $53 billion in assets under management. It is predominantly owned by Mubadala, the investment arm of Abu Dhabi. The firm has noteworthy investments, including European brands such as Curzon Cinemas and Majestic Wine.
Career Highlights
Josh Pack dedicated over 23 years to Fortress. He held various leadership positions, focusing on private credit, private equity, real estate, and distressed investing. Pack joined Fortress at the beginning of its credit funds business and played a key role in the company’s strategic growth.
- Transitioned from Dallas to London for European expansion.
- Key player in the 2021 acquisition bids for UK supermarket Morrisons.
- Served as a board member for Majestic Wine.
Before his tenure at Fortress, he was a vice-president at Wells Fargo and attended the United States Air Force Academy.
Company Response and Future Leadership
The Fortress team expressed deep sorrow over Pack’s loss, highlighting his contributions as a strategist and compassionate leader. They noted his strong commitment to his colleagues, which was reciprocated by many in the firm.
Following Pack’s passing, co-CEO Drew McKnight will continue to lead Fortress alongside President Jack Neumark. In the interim, Executive Chair Pete Briger will increase his involvement to ensure stability within the organization.
Background on Fortress Investment Group
Founded in 1998, Fortress is headquartered in New York and Dallas. It recently underwent significant ownership changes when Mubadala acquired its stake from SoftBank Group in 2023. This acquisition allowed Fortress’s management to regain control of 30% of the business, retaining the ability to appoint a majority of board members.
The firm’s history includes being taken private by SoftBank after its 2007 initial public offering, further indicating the dynamic nature of its leadership changes over the years.
