Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Novogratz Michael
   2. Issuer Name and Ticker or Trading Symbol
Fortress Investment Group LLC [FIG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and Director
(Last)
(First)
(Middle)
C/O FORTRESS INVESTMENT GROUP LLC, 1345 AVENUE OF THE AMERICAS, 46TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
08/27/2009
(Street)

NEW YORK, NY 10105		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Shares 08/27/2009   C   1,677,151 A $ 0 (1) 2,397,151 D  
Class A Shares 08/27/2009   G   419,288 D $ 0 1,977,863 D  
Class A Shares 08/27/2009   G   838,575 D $ 0 1,139,288 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Fortress Operating Group Units (2) (1) 08/27/2009   C(1)     1,677,151   (2)   (2) Class A Shares 1,677,151 $ 0 35,690,005 (3) D  
Fortress Operating Group Units (2) (1)               (2)   (2) Class A Shares 8,008,108   8,008,108 I By MNI LLC
Fortress Operating Group Units (2) (1)               (2)   (2) Class A Shares 17,200,000 (4)   17,200,000 (4) I By The Michael Novogratz 2008 Annuity Trust
Fortress Operating Group Units (2) (1)               (2)   (2) Class A Shares 4,000,000 (5)   4,000,000 (5) I By The Novogratz Family 2008 Annuity Trust

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Novogratz Michael
C/O FORTRESS INVESTMENT GROUP LLC
1345 AVENUE OF THE AMERICAS, 46TH FLOOR
NEW YORK, NY 10105		   X   X   President and Director  

Signatures

 /s/ David N. Brooks, as attorney-in-fact   08/28/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reporting person exchanged 1,677,151 Fortress Operating Group Units for an equal number of Class A Shares and then simultaneously donated 1,257,863 of the exchanged Class A shares to charity. The reporting person did not sell any of the Class A shares received from the exchange and did not receive any proceeds from the conversion of Fortress Operating Group Units to Class A shares.
(2) A "Fortress Operating Group Unit" represents one limited partner interest in each of Fortress Operating Entity I LP, Fortress Operating Entity II LP, Fortress Operating Entity III LP and Principal Holdings I LP. The Reporting Person has the right, exercisable from time to time, to exchange each Fortress Operating Group Unit for one Class A share of the Company; provided, that one Class B share of the Company (which has no economic interest in the Company) is concurrently delivered to the Company for cancellation. The Reporting Person owns Class B shares in the same amount as the Reporting Person's Fortress Operating Group Units. Such shares represent no economic interest in the Company and are not separately reported herein. The Fortress Operating Group Units have no expiration date.
(3) Includes 29,233,578 Fortress Operating Group Units previously held by The Michael Novogratz 2007 Annuity Trust and 2,702,703 Fortress Operating Group Units previously held by The Novogratz Family 2007 Annuity Trust.
(4) Includes 17,200,000 Fortress Operating Group Units, all of which were previously held directly by the Reporting Person and were contributed to The Michael Novogratz 2008 Annuity Trust.
(5) Includes 4,000,000 Fortress Operating Group Units, all of which were previously held directly by the Reporting Person and were contributed to The Novogratz Family 2008 Annuity Trust.

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