Sec Form 13G Filing - TIEDEMANN ADVISORS LLC @ Fortress Net Lease REIT

Insider filing report for Changes in Beneficial Ownership

Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)*

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)

12/31/2024

(Date of Event Which Requires Filing of this Statement)

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

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

TTC Multi-Strategy Fund QP, LP

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,489,322.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,489,322.00

Aggregate Amount Beneficially Owned by Each Reporting Person

6,489,322.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

17.6 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

Tiedemann Advisors GP, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,489,322.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,489,322.00

Aggregate Amount Beneficially Owned by Each Reporting Person

6,489,322.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

17.6 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

Tiedemann Advisors, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 21,319,406.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,319,406.00

Aggregate Amount Beneficially Owned by Each Reporting Person

21,319,406.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

57.8 %

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

AlTi Wealth & Capital Solutions Holdings, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 21,319,406.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,319,406.00

Aggregate Amount Beneficially Owned by Each Reporting Person

21,319,406.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

57.8 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

AlTi Global Holdings, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 21,319,406.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,319,406.00

Aggregate Amount Beneficially Owned by Each Reporting Person

21,319,406.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

57.8 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

AlTi Global Topco Ltd

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

ISLE OF MAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 21,319,406.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,319,406.00

Aggregate Amount Beneficially Owned by Each Reporting Person

21,319,406.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

57.8 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

AlTi Global Capital, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 21,319,406.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,319,406.00

Aggregate Amount Beneficially Owned by Each Reporting Person

21,319,406.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

57.8 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

FNLR04616

Names of Reporting Persons

AlTi Global, Inc.

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 21,319,406.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,319,406.00

Aggregate Amount Beneficially Owned by Each Reporting Person

21,319,406.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

57.8 %

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

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, NY 10105

Item 2.

(a)

Name of person filing:

TTC Multi-Strategy Fund QP, LPTiedemann Advisors GP, LLCTiedemann Advisors, LLCAlTi Wealth & Capital Solutions Holdings, LLCAlTi Global Holdings, LLCAlTi Global Topco LtdAlTi Global Capital, LLCAlTi Global, Inc.

(b)

Address or principal business office or, if none, residence:

TTC Multi-Strategy Fund QP, LPc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017Tiedemann Advisors GP, LLCc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017Tiedemann Advisors, LLCc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017AlTi Wealth & Capital Solutions Holdings, LLCc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017AlTi Global Holdings, LLCc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017AlTi Global Topco Ltdc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017AlTi Global Capital, LLCc/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017AlTi Global, Inc.c/o AlTi Global, Inc.22 Vanderbilt Avenue, 27th FloorNew York, New York 10017

(c)

Citizenship:

TTC Multi-Strategy Fund QP, LP - DelawareTiedemann Advisors GP, LLC - DelawareTiedemann Advisors, LLC - DelawareAlTi Wealth & Capital Solutions Holdings, LLC - DelawareAlTi Global Holdings, LLC - DelawareAlTi Global Topco Ltd - Other - Isle of ManAlTi Global Capital, LLC - DelawareAlTi Global, Inc. - Delaware

(d)

Title of class of securities:

Class D Common Shares of Beneficial Interest, par value $0.01 per share

(e)

CUSIP No.:

FNLR04616

Item 3.

If this statement is filed pursuant to §§ 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 Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the 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)

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)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations 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)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

TTC Multi-Strategy Fund QP, LP - 6,489,322Tiedemann Advisors GP, LLC - 6,489,322Tiedemann Advisors, LLC - 21,319,406AlTi Wealth & Capital Solutions Holdings, LLC - 21,319,406AlTi Global Holdings, LLC - 21,319,406AlTi Global Topco Ltd - 21,319,406AlTi Global Capital, LLC - 21,319,406AlTi Global, Inc. - 21,319,406

(b)

Percent of class:

TTC Multi-Strategy Fund QP, LP - 17.6%Tiedemann Advisors GP, LLC - 17.6%Tiedemann Advisors, LLC - 57.8%AlTi Wealth & Capital Solutions Holdings, LLC - 57.8%AlTi Global Holdings, LLC - 57.8%AlTi Global Topco Ltd - 57.8%AlTi Global Capital, LLC - 57.8%AlTi Global, Inc. - 57.8% %

(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 - 0Tiedemann Advisors GP, LLC - 0Tiedemann Advisors, LLC - 0AlTi Wealth & Capital Solutions Holdings, LLC - 0AlTi Global Holdings, LLC - 0AlTi Global Topco Ltd - 0AlTi Global Capital, LLC - 0AlTi Global, Inc. - 0

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

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

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

Item 5.

Ownership of 5 Percent or Less of a Class.

Item 6.

Ownership of more than 5 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 5 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 Amendment No. 1 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 or Control Person.

If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(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.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

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.By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.

TTC Multi-Strategy Fund QP, LP

Signature:	By: /s/ Whitney Fogle Lewis
Name/Title:	Whitney Fogle Lewis / Authorized Signatory
Date:	02/13/2025

Tiedemann Advisors GP, LLC

Signature:	By: /s/ Whitney Fogle Lewis
Name/Title:	Whitney Fogle Lewis / Authorized Signatory
Date:	02/13/2025

Tiedemann Advisors, LLC

Signature:	By: /s/ Whitney Fogle Lewis
Name/Title:	Whitney Fogle Lewis / Authorized Signatory
Date:	02/13/2025

AlTi Wealth & Capital Solutions Holdings, LLC

Signature:	By: /s/ Colleen Graham
Name/Title:	Colleen Graham / Authorized Signatory
Date:	02/13/2025

AlTi Global Holdings, LLC

Signature:	By: /s/ Colleen Graham
Name/Title:	Colleen Graham / Authorized Signatory
Date:	02/13/2025

AlTi Global Topco Ltd

Signature:	By: /s/ Colleen Graham
Name/Title:	Colleen Graham / Authorized Signatory
Date:	02/13/2025

AlTi Global Capital, LLC

Signature:	By: /s/ Colleen Graham
Name/Title:	Colleen Graham / Authorized Signatory
Date:	02/13/2025

AlTi Global, Inc.

Signature:	By: /s/ Colleen Graham
Name/Title:	Colleen Graham / Authorized Signatory
Date:	02/13/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her 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.To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing AgreementExhibit B - Control Person Identification

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Sec Form 13G Filing - TIEDEMANN ADVISORS LLC filing for Fortress Net Lease REIT - 2025-02-13