Josh Pack, the co-chief executive officer of Fortress Investment Group, has died at 51, the company said Tuesday.
The New York-based alternative asset manager, which oversees $53 billion, confirmed Pack’s death in a statement but did not provide a cause.
“We are devastated by this loss,” Fortress said.
“Josh was a gifted investor, a thoughtful strategist, a compassionate leader — and a deeply cherished friend to many.”
“Everyone at Fortress is grieving the loss of one of our most exceptional leaders,” the firm said.
“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.”
No details on funeral arrangements have been released.
Pack’s sudden death comes just months after he announced plans to relocate from Dallas to London to spearhead Fortress’s European expansion.
In May, he told Bloomberg News that the move was part of an aggressive push to hire senior executives, expand private credit operations and lure institutional investors across Europe and the Middle East.
Fortress was founded in 1998 and has long been known for its bets in corporate credit, real estate, private equity and asset-based finance.
Under Pack’s leadership, the firm reinforced those strategies and ramped up growth “probably faster than we had initially planned,” he told Bloomberg earlier this year.
The expansion was also aimed at hedging against uncertainty in the US market, where President Donald Trump’s trade policies and a weakening dollar were weighing on investor sentiment.
At the time, Pack described Fortress as “very focused on the Middle East” and eyeing Asia, particularly private wealth clients. He said European investors made up less than 10% of assets under management, compared with more than 50% from the US.
Fortress said co-CEO Drew McKnight will continue in his role alongside Jack Neumark, who is being elevated to share leadership.
Executive Chairman Pete Briger will also take on greater day-to-day involvement.
Pack joined Fortress 23 years ago from Wells Fargo, starting in its credit funds unit before overseeing a wide portfolio of investments.
He played a central role in Fortress’s transition from a public company in 2007, to its take-private by SoftBank Group Corp. a decade later, and to last year’s stake sale to Abu Dhabi’s Mubadala Investment Co.
He attended the US Air Force Academy before graduating from California State University, San Marcos, with a degree in economics.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
