The co-CEO of Fortress Investment Group, Joshua Pack, died unexpectedly on Monday at the age of 51.
Pack joined Fortress from Wells Fargo 23 years ago, at first positioned in the credit funds division. He was promoted to co-CEO in 2023 as part of the Abu Dhabi-based Mubadala purchase of Fortress from Japan’s SoftBank Group, Axios reported. The cause of death wasn’t stated.
Pack had recently left Fortress’ Dallas headquarters for London to focus on European expansion. He served on Fortress’ board of directors as well as the firm’s environmental, social and governance committee and leadership committee.
The alternative asset firm manages about $53 billion and invests in asset-based finance, real estate, corporate credit and private equity, Bloomberg reported. Fortress also has a headquarters in New York. The firm was founded in 1998. Drew McKnight will remain a co-CEO, and Jack Neumark would be promoted to co-CEO.
The firm has been on a buying and selling spree in recent months, picking up an office building in suburban Atlanta and apartments in San Francisco while offloading a more than 650-unit apartment complex in Dallas.
Before Wells Fargo, Pack was a vice president with American Commercial Capital, a specialty finance company focused on real estate and corporate lending that was acquired by Wells Fargo in 2001, according to the firm’s website.
“We are devastated by this loss. Josh was a gifted investor, a thoughtful strategist, a compassionate leader — and a deeply cherished friend to many,” Fortress said in a statement. “Josh left an indelible mark on our institution. He cared deeply for his team, and that care was returned in kind.”
Pack attended the United States Air Force Academy and received a degree in economics from California State University, San Marcos.
“Everyone at Fortress is grieving the loss of one of our most exceptional leaders,” Fortress said in the statement. “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.”
— Eric Weilbacher
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