The hedge fund manager sold 34.3 million shares for $18.50 each leaving the five principles still holding 78 per cent of the company.
Listing on the New York Stock Exchange, Fortress becomes the first publicly traded hedge fund in the US, although there are a number of funds - including Man Group, RAB Capital and BlueBay Asset Management - listed in Europe.
The success of Fortress's move could bring more US-based hedge funds to listing as a way of raising capital and provide stock to attract new employees.
Across the US there are thought to around 6,000 hedge funds managing around $1.3 trillion, although only a minority would be expected to head towards going public.
New York-based Fortress has around $29.9 billion in assets under management - including $9.4 billion with its hedge fund business and $17.5 billion in its private equity business.