Fortress Investment Group LLC is a leading investment management firm operating globally with a highly diversified investment portfolio. It was established in 1998 as a private equity firm in New York. Its three founders were Wesley R. Edens, Randal Nardone and Rob Kauffman.After establishment, the firm quickly flourished with the private equity fund that it managed growing at an average rate of 39.7% within the first seven years of its existence. As a result of its brilliant performance, Fortress Investment Group received numerous industrial accolades. For instance, in 2014, HFMWeek, an industry publication named the firm as their “Management Firm of the Year”. Previously Institutional investor had named Fortress as their “Discretionary Macro-Focused Hedge Fund of the Year”. Still, in 2014, an Institutional investor called Fortress their “Hedge Fund of the Year”.
Fortress Group has diversified its investment services to increase its market share. It raises, invests, and manages assets for 1,800 clients, who comprise of both institutional clients and private investors. The company’s target market come from across the whole of United States and also worldwide. Among the range of investments that Fortress manages include; private equity, liquid markets, permanent investment vehicles, a range of credit, real estate and traditional asset management. All these investments are made on behalf of thousands of its both individual and institutional investors worldwide.One unique attribute of Fortress Investment Group is that it cherishes professionalism. By the end of 2017, they employed approximately 1,000 employees with more than 200 of them being investment professionals. They have also established satellite offices outside New York and across the world to ensure adequate market reach.
In mid-2017, SoftBank Group Corp. announced that it had completely acquired Fortress Investment Group, a transaction that cost SoftBank $3.3 billion in cash. The acquisition followed compliance and satisfaction of all the conditions relative to the closing of the transaction including receipt of approvals from the relevant regulations and also approval from the shareholders of Fortress.As a result of this acquisition, the ownership of all the outstanding Fortress shares was immediately transferred to SoftBank and all its fully-owned subsidiaries. Fortress common stock also ceased trading and was subsequently delisted from the New York Stock Exchange. However, the three principals of Fortress have continued to lead Fortress as it operates independently but still within SoftBank.
About Fortress Group
Fortress is a trailblazer of the investment industry with assets worth $4.3 billion under the company’s management. They manage assets on behalf of over 1,800 clients, both institutional and private clients. The company manages a wide range of assets ranging from real estate, private equity investment strategies, permanent capital and credit.