(Reuters) Maggie Arvedlund, a former Fortress Investment Group hedge fund portfolio manager and managing director, plans to start her own firm, four people familiar with the situation told Reuters. Arvedlund, who for nine years helped to run the Fortress Partners Fund, aims to launch Turning Rock Capital with $500 million by year-end, one source said.
Turning Rock will take a similar approach to the Partners Fund, investing in debt and equity investments, the source said. It will focus on smaller and mid-market opportunities in North America and “below-the-radar” securities and portfolios, the source added.
