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.
In today’s high-tech world where business gets done at an ever increasing rate, people need to be even smarter with their finances. That is why investment management continues to become a key component to success.Obtaining wealth is tricking enough. Maintaining and even building on it can be even more so.That is why an investment management firm such as the Fortress Investment Group is so valuable to their clients. In terms of track records, Fortress stands out as an alternative asset management group that has had success over the years. In late December 2017, the company was bought by Softbank Group for an estimated $3.3 billion dollars and made into subsidiary. However, Softbank chose to keep the Fortress Investment name as a show of the high regard the Fortress brand has in its field.In a world where there are a greater variety of ways to spend capital, Fortress Investment tends are known for its strong alternative asset management abilities.
According to some estimates in 2016, Fortress was managing approximately $70 billion for its clients. Much of the money was involved in alternative investment forms instead of the more traditional investment vehicles such as stocks and bonds.Founded in 1998 and based out of New York City, the Fortress Investment Group has steadily developed over the past two decades. During the early part of the firm’s existence, growth was fairly quick in its handling of private equities. By 2007, Fortress Investment was listed on the New York Stock Exchange, become the first private equity firm in the country to trade its own shares to the public.Despite suffering greatly from the bear market around 2008, the Fortress Investment Group rebuilt itself by focusing more on credit funds.
The Institutional Investor even named the company as the 2014 Hedge Fund Manager of the Year. The firm also was the main lender toward the developers who eventually built the Olympic Village for the 2010 Winter Olympics held in Vancouver, British Columbia, Canada. The Fortress Investment Group provides a number of services to its clients. It has four main services: private equity, liquid markets, assets under management, and credit. Among its specialties are commercial real estate, permanent capital vehicles (PCVs), and business loans particularly of the long-term nature. Fortress has numerous of clients in North America, Western Europe, and the Caribbean.
Founded in 1998, Fortress Investment Group has become one of the largest in the nation. Principal and Co-CEO, Peter Briger, helped Fortress be where it is today that landed him on the Forbes Billionaire list and become invested in charitable causes.Residing in San Francisco for Fortress, Peter Briger was invested early in life with finances and received his Business Administration at Princeton University. He then obtained his M.B.A from the Warton School of Business at the University of Pennsylvania. After school, his degrees landed him a job at Goldman Sachs & Co. for 15 years. His positions included Co-Head of Whole Loan Sales and Trading business, Co-Head of Fixed Income Principal Investments Group, Co-Head of Asian Distressed Debt business, Co-Head of Asian Real Estate Private Equity business, and Partner until 1996.
In 1998, he was a part of Fortress Investment Group and by 2007 he was able to become #407 on the Forbes Billionaire list.Not only is Peter Briger responsible for the leading investment group’s credit fund and real estate business, he also contributes to a number of charitable causes. Peter Briger is on the Council on Foreign Relations which helps promote a wider understanding of foreign policy issues. He is also the Silicon Valley Leadership Council for Global Fund for Children.
In addition, he helped start up The Alumni Entrepreneur’s Fund (AEF) that helps Princeton alumni entrepreneurs kick start a start-up company. Along with serving his community, the employees also receive his service as a manager. With over 2,500 employees, Fortress has seen great ratings from their workers. They love to be challenged and in return, it shows in their performance when interacting with the clients. Also, they are given many opportunities to grow and expand within the company or to be qualified for another position elsewhere.