Mr. Peter Briger is a co-chairman and principal of board of directors of Fortress. He is a graduate of Princeton University with a business administration degree and master’s degree from the same university. As a result of his qualification and competence, he was appointed as management committee in 2002 responsible for real estate as well as credit management. He is ranked 370 according to the Forbes lists of the wealthiest individuals across the globe. Peter Briger is considered as an enigma in the capital management aspect. In the recent times, Peter has worked closely with other institutions which are have experienced challenges with their liquidity. For instance, Mount Kellett Capital Management LP which is worth $5 billion has been experiencing financial distress, and it turned to Peter for a bailout.
As a result, the Fortress Investment Group LLC which is a subsidiary of Fortress funds agreed to bailout Kellet Capital by investing $200 and gain the majority shareholder. In addition Fortress Investment funds have not only taken control of the organization but leveraged on ensuring business venture. In the recent times the Mount Kellett Company is undergoing restructuring, and as a result, it has retrenched more than 30 employees across the globe. Therefore, the bailout by the Peter Bridger is welcome news which will facilitate the bailout process and ensure smooth flow of the retrenchment exercise. The main reason for the laying off employees was to make sure the organization maximized its returns through reducing the cost implication from huge employees’ workforce.
The entry of the Wall Street on the journal in the bitcoin market has elicited mixed reactions from the Briger who has had a special interest in the instrument of trading. According to Peter Briger, Wall Street entering in the trading of bitcoins will only make it better for the concept to spread further and become accepted by all the parties within the market. In the case of bitcoins, several challenges have been experienced and the recent one being the withdrawal of the Wells Fargo from the business. Thus the engagement of Wall Street in the business is an indicator of the significant impact which the market will benefit from the use of bitcoins in trading. Despite the fact that Wall Street is cagey in engaging in bitcoins, Briger is optimistic about the organization taking up the idea and further developing the aspect. According to Briger it will not be easy for the Wall Street to engage in the bitcoins since it is still perceived as volatile and risky for investing.