Download the Repurchase Form linked here.
Repurchase Offer Calendar
| Link to documents | Repurchase Form |
| Frequency | Last business day of each month |
| Document Due Date | 4 PM eastern time on second to last business day of the month |
| Expected Payment | Within three business days of the repurchase date |
Repurchase Price
Expiration Date (by 4pm ET): 10/30/2024
| Class F-S | $10.0989 |
| Class F-I | $10.1098 |
| Class D* | $10.1719 |
| Class D-X* | $10.2121 |
| Class E | $10.2188 |
*Class D and Class D-X shares are subject to a two-year hard lock. Repurchases for Class D and Class D-X shares are provided herein for informational purposes only.
Repurchase Process
Note that FNLR is not available to members of the public, and no offering is being made or should be inferred. Please ensure that you carefully review the repurchase offer materials, the Frequently Asked Questions below, and the fund’s Private Placement Memorandum with respect to information on repurchases.
Step 1
Step 2
Complete all sections of the form including the signature and date portion. If you are investing through your financial advisors, please consult with them before completing and submitting for processing.
Custodial held accounts will require forms submitted through the corresponding custodian.
Step 3
Submit the completed form to your custodian (if applicable) or submit directly to fnlr@fortress.com or to the Transfer Agent fortressai@sscinc.com.
Written requests should be sent to the transfer agent at the following address:
FNLR@fortress.com
c/o
Fortress Investment Group LLC
PO Box 219090
Kansas City, MO 64121-9090
Toll Free Number: 866-966-0155
Frequently Asked Questions
Do I need to take any action if I decide not to participate in the repurchase offer?
No.
When can an investor participate in a repurchase offer?
Shareholders may request that we repurchase all or any portion of their shares on a monthly basis. If we choose to repurchase shares, such repurchase will occur as of the opening of business on the last business day of the month (the “Repurchase Date”).
I've submitted a repurchase request, but can I withdraw that request before the deadline?
A shareholder may withdraw his or her repurchase request by completing a repurchase withdrawal form and sending the form to fnlr@fortress.com or fortressai@sscinc.com by the second to last business day of the month.
If my repurchase request has been accepted, when will I receive the proceeds?
Payment for properly repurchased shares (which are not timely withdrawn) will generally be made within three business days of the Repurchase Date.
How is the share repurchase price determined?
The repurchase price will generally be equal to the prior month’s NAV per share, subject to any early repurchase deduction (if applicable).
Is there an early withdrawal fee and if so, how much?
Class B-X, Class F-I X, Class F-I, Class F-D, and Class F-S Shares participating in the repurchase offer that have not been outstanding for at least one year will be repurchased at 98% of the transaction price on the applicable Repurchase Date. Note that Class D-X Shares are subject to a two-year lock up and cannot be repurchased before the expiration of such lock up.
What happens if my repurchase request is not submitted in time or not satisfied for the current month?
All unsatisfied repurchase requests must be resubmitted after the start of the next month for the next month’s Repurchase Date.
What happens if my request was deemed “not in good order” and has not been “cured” by the repurchase deadline?
The request will not be considered for the period. All unsatisfied repurchase requests must be resubmitted after the start of the next month for the next month’s Repurchase Date.
Are there repurchase limitations?
Yes. The aggregate NAV of total repurchases of Class B-X, Class D-X, Class F-S, Class F-D, Class F-I X, and Class F-I is limited to no more than 2% of the Company’s aggregate NAV per month (measured using the aggregate NAV attributable to Shareholders as of the end of the immediately preceding month) and no more than 5% of the Company’s aggregate NAV per calendar quarter (measured using the average aggregate NAV attributable to Shareholders as of the end of the immediately preceding three months). Note that we may choose to repurchase fewer shares than have been requested, or none at all; in the event that we repurchase some but not all shares submitted for repurchase, the shares that are repurchased will be repurchased on a pro rata basis. Any repurchase requests that are not satisfied due to the circumstances described above must be resubmitted after the start of the next month or quarter, or upon the recommencement of repurchases, as applicable.