Joshua Pack, co-CEO of Fortress Investment Group, died unexpectedly on Monday at the age of 51. The cause of death was not disclosed.
Pack joined Fortress 23 years ago from Wells Fargo and initially worked in the credit funds division. He was promoted to co-CEO in 2023 following the acquisition of Fortress by Mubadala from SoftBank Group. Recently, Pack relocated from Dallas to London to oversee the firm’s European expansion efforts. He also served on Fortress’ board of directors and participated in its environmental, social and governance committee as well as its leadership committee.
Fortress Investment Group manages approximately $53 billion across asset-based finance, real estate, corporate credit, and private equity. The firm has headquarters in both New York and Dallas and was founded in 1998. Drew McKnight will continue as co-CEO while Jack Neumark will be promoted to co-CEO.
In recent months, Fortress has been active in real estate transactions, acquiring an office building near Atlanta for $93 million through a sale-leaseback arrangement (https://therealdeal.com/atlanta/2024/07/10/fortress-buys-alpharetta-office-building-for-93m-in-sale-leaseback/) and investing $33 million in San Francisco multifamily properties (https://therealdeal.com/sanfrancisco/2024/06/25/fortress-multifamily-spree-strikes-again-after-33m-investment/). The firm also sold a more than 650-unit apartment complex in Dallas (https://therealdeal.com/dallas-ft-worth/2024/06/27/fortress-offloads-dallas-multifamily-to-unknown-michigan-investor/) to an unidentified Michigan investor.
Before joining Wells Fargo, Pack was vice president at American Commercial Capital, which specialized in real estate and corporate lending before being acquired by Wells Fargo in 2001.
In a statement released by Fortress: “We are devastated by this loss. Josh was a gifted investor, a thoughtful strategist, a compassionate leader — and a deeply cherished friend to many,” said the company. “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 earned an economics degree from California State University, San Marcos.
“Everyone at Fortress is grieving the loss of one of our most exceptional leaders,” continued the statement from Fortress. “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.”
