Fortress’ Latest Private Debt Fund Seeks to Lure Insurance Firms

Fortress Investment Groupis adding an insurer-friendly feature to its latest fund, which will primarily invest in direct corporate loans, according to people familiar with the matter.

The alternative asset-manager is adding an unleveraged sleeve to its Fortress Lending Fund V, in a bid to lure insurance companies as well as some other European institutional investors, said the people, who asked not to be identified as the matter is private. The previous vintages of the strategy offered a single version using leverage, the people added.

Fortress, which is backed by a consortium led by a unit of Abu Dhabi sovereign ...