New York-based hedge fund firm Fortress Investment Group announced Wednesday that it will be the exclusive sponsor of the Fortress Global Macro University Challenge.
The Challenge will consist of undergraduate and graduate students from the 20 top universities and colleges in North America competing against each by managing hypothetical investment portfolios. Participating universities include New York University, Princeton and Yale.
The two winners will win summer internships on Fortress’ macro investing team next summer. The will also share a prize of $15,000. Participants will be judge on a variety of factors, including investment returns, trading histories, risk management skills, and how they translate their market insights into portfolio management strategies.
Founded in 1998, Fortress manages approximately $55 billion in assets under management.