Tiedemann Advisors LLC

11/15/2024 | Press release | Distributed by Public on 11/15/2024 15:54

Beneficial Ownership Report - Form SC 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Fortress Net Lease REIT
(Name of Issuer)
Class D Common Shares of Beneficial Interest, par value $0.01 per share
(Title of Class of Securities)
FNLR04616
(CUSIP Number)
December 1, 2023
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[X] Rule 13d-1(b)

[X] Rule 13d-1(c)

[_] Rule 13d-1(d)

__________

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
TTC Multi-Strategy Fund QP, LP
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
6,485,038
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
6,485,038
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,485,038
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.6%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tiedemann Advisors GP, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
6,485,038
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
6,485,038
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,485,038
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.6%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tiedemann Advisors, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
20,124,702
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
20,124,702
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,124,702
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
54.5%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA, OO
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AlTi Wealth Management Holdings, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
20,124,702
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
20,124,702
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,124,702
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
54.5%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AlTi Global Holdings, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
20,124,702
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
20,124,702
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,124,702
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
54.5%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AlTi Global Topco Limited
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Isle of Man
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
20,124,702
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
20,124,702
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,124,702
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
54.5%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AlTi Global Capital, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
20,124,702
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
20,124,702
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,124,702
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
54.5%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
CUSIP No FNLR04616
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
AlTi Global, Inc.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [_]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
20,124,702
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
20,124,702
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,124,702
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
54.5%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
HC, CO
CUSIP No FNLR04616
Item 1. (a). Name of Issuer:
Fortress Net Lease REIT
(b). Address of Issuer's Principal Executive Offices:

1345 Avenue of the Americas

New York, New York 10105

United States of America

Item 2. (a). Name of Person Filing:

TTC Multi-Strategy Fund QP, LP

Tiedemann Advisors GP, LLC

Tiedemann Advisors, LLC

AlTi Wealth Management Holdings, LLC

AlTi Global Holdings, LLC

AlTi Global Topco Limited

AlTi Global Capital, LLC

AlTi Global, Inc.

(b). Address of Principal Business Office, or if None, Residence:

TTC Multi-Strategy Fund QP, LP

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

Tiedemann Advisors GP, LLC

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

Tiedemann Advisors, LLC

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

AlTi Wealth Management Holdings, LLC

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

AlTi Global Holdings, LLC

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

AlTi Global Topco Limited

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

AlTi Global Capital, LLC

c/o AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

AlTi Global, Inc.

520 Madison Avenue, 26th Floor

New York, New York 10022

(c). Citizenship:

TTC Multi-Strategy Fund QP, LP - Delaware

Tiedemann Advisors GP, LLC - Delaware

Tiedemann Advisors, LLC - Delaware

AlTi Wealth Management Holdings, LLC - Isle of Man

AlTi Global Holdings, LLC - Delaware

AlTi Global Topco Limited - Delaware

AlTi Global Capital, LLC - Delaware

AlTi Global, Inc. - Delaware

(d). Title of Class of Securities:
Class D Common Shares of Beneficial Interest, par value $0.01 per share
(e). CUSIP Number:
FNLR04616
Item 3. If This Statement is filed pursuant to ss.240.13d-1(b) or 240.13d-2(b), or (c), check whether the person filing is a
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act (15 U.S.C. 78c).
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act (15 U.S.C. 78c).
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange Act (15 U.S.C. 78c).
(d) [_] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g) [X] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813);
(i) [_] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [_]

Group, in accordance with s.240.13d-1(b)(1)(ii)(J).

Item 4. Ownership.
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:

TTC Multi-Strategy Fund QP, LP - 6,485,038

Tiedemann Advisors GP, LLC - 6,485,038

Tiedemann Advisors, LLC - 20,124,702

AlTi Wealth Management Holdings, LLC - 20,124,702

AlTi Global Holdings, LLC - 20,124,702

AlTi Global Topco Limited - 20,124,702

AlTi Global Capital, LLC - 20,124,702

AlTi Global, Inc. - 20,124,702

(b) Percent of class:

TTC Multi-Strategy Fund QP, LP - 17.6%

Tiedemann Advisors GP, LLC - 17.6%

Tiedemann Advisors, LLC - 54.5%

AlTi Wealth Management Holdings, LLC - 54.5%

AlTi Global Holdings, LLC - 54.5%

AlTi Global Topco Limited - 54.5%

AlTi Global Capital, LLC - 54.5%

AlTi Global, Inc. - 54.5%

(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote

TTC Multi-Strategy Fund QP, LP - 0

Tiedemann Advisors GP, LLC - 0

Tiedemann Advisors, LLC - 0

AlTi Wealth Management Holdings, LLC - 0

AlTi Global Holdings, LLC - 0

AlTi Global Topco Limited - 0

AlTi Global Capital, LLC - 0

AlTi Global, Inc. - 0

(ii) Shared power to vote or to direct the vote

TTC Multi-Strategy Fund QP, LP - 6,485,038

Tiedemann Advisors GP, LLC - 6,485,038

Tiedemann Advisors, LLC - 20,124,702

AlTi Wealth Management Holdings, LLC - 20,124,702

AlTi Global Holdings, LLC - 20,124,702

AlTi Global Topco Limited - 20,124,702

AlTi Global Capital, LLC - 20,124,702

AlTi Global, Inc. - 20,124,702

(iii) Sole power to dispose or to direct the disposition of

TTC Multi-Strategy Fund QP, LP - 0

Tiedemann Advisors GP, LLC - 0

Tiedemann Advisors, LLC - 0

AlTi Wealth Management Holdings, LLC - 0

AlTi Global Holdings, LLC - 0

AlTi Global Topco Limited - 0

AlTi Global Capital, LLC - 0

AlTi Global, Inc. - 0

(iv) Shared power to dispose or to direct the disposition of

TTC Multi-Strategy Fund QP, LP - 6,485,038

Tiedemann Advisors GP, LLC - 6,485,038

Tiedemann Advisors, LLC - 20,124,702

AlTi Wealth Management Holdings, LLC - 20,124,702

AlTi Global Holdings, LLC - 20,124,702

AlTi Global Topco Limited - 20,124,702

AlTi Global Capital, LLC - 20,124,702

AlTi Global, Inc. - 20,124,702

Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [_].
N/A
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G are directly owned by advisory clients of Tiedemann Advisors, LLC. None of those advisory clients, other than TTC Multi-Strategy Fund QP, LP, may be deemed to beneficially own more than 5% of the Class D Common Shares of Beneficial Interest, par value $0.01 per share.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Please see Exhibit B attached hereto.

Item 8. 		Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
N/A
Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
N/A
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

November 15, 2024
(Date)

TTC Multi-Strategy Fund QP, LP*

By: /s/ Whitney Fogle Lewis

Name: Whitney Fogle Lewis

Title: Authorized Signatory

Tiedemann Advisors GP, LLC*

By: /s/ Whitney Fogle Lewis

Name: Whitney Fogle Lewis

Title: Authorized Signatory

Tiedemann Advisors, LLC*

By: /s/ Whitney Fogle Lewis

Name: Whitney Fogle Lewis

Title: Authorized Signatory

AlTi Wealth Management Holdings, LLC*

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global Holdings, LLC*

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global Topco Limited*

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global Capital, LLC*

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global, Inc.*

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

* This Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See s.240.13d-7 for other parties for whom copies are to be sent.

Attention. Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).

Exhibit A

AGREEMENT

The undersigned agree that this Schedule 13G dated November 15, 2024 relating to the Class D Common Shares of Beneficial Interest, par value $0.01 per share, of Fortress Net Lease REIT shall be filed on behalf of the undersigned.

TTC Multi-Strategy Fund QP, LP

By: /s/ Whitney Fogle Lewis

Name: Whitney Fogle Lewis

Title: Authorized Signatory

Tiedemann Advisors GP, LLC

By: /s/ Whitney Fogle Lewis

Name: Whitney Fogle Lewis

Title: Authorized Signatory

Tiedemann Advisors, LLC

By: /s/ Whitney Fogle Lewis

Name: Whitney Fogle Lewis

Title: Authorized Signatory

AlTi Wealth Management Holdings, LLC

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global Holdings, LLC

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global Topco Limited

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global Capital, LLC

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

AlTi Global, Inc.

By: /s/ Colleen Graham

Name: Colleen Graham

Title: Authorized Signatory

Exhibit B

Tiedemann Advisors, LLC is the relevant entity for which AlTi Global, Inc. may be considered a control person.