Launches & Closures

Ex-Fortress duo start Harness in macro/FX


Two former Fortress macro professionals have launched a firm that will manage a new macro fund and will also provide FX advisory services and managed accounts.

Jonathan Ratcliffe

Harness was founded earlier this year by Philippe Peress and Jonathan Ratcliffe, who both worked for the Fortress Drawbridge Global Macro fund until the end of last year. The duo launched their debut fund, the Harness Liquid Macro Fund, on 13 July.

The firm also recently won a large FX mandate, advising a well-known charitable foundation on its currency exposures. The mandate employs the same foreign exchange