It’s fair to say that the Fortress Investment Group is a trendsetter and is a force of innovation. The company was formed as a private equity firm back in 1998, but since then it has grown to become a well-respected alternative asset management companies.Fortress Investment Group manages over $30 billion of assets for over 1,000 investors in hedge funds, private equity and permanent capital vehicles. The firm’s three principals are Peter Briger, Randal Nardone from New York and Wes Edens, also based in New York.
The Firm’s Founding
The three principals previously mentioned founded the Fortress Investment Group. Edens, Nardone and Kauffman (who retired six years ago) had extensive financial experience from their time at companies such as UBS, Goldman Sachs, Lehman Brothers and BlackRock Financial Management. The first investment vehicle the company launched was called the Fortress Investment Fund I. This fund quickly grew, and some of the firms earliest investments were in the Toronto and New York real estate markets. Eventually the firm expanded into hedge funds as well as debt securities.
Within 10 years of its founding, Fortress decided to launch its Initial Public Offering. In 2006, the company had already grew and expanded and launched Fortress Investment Fund II, II and IV. A little after its IPO, the firm made the decision to increase their investment vehicles.About eight years ago, the firm acquired American general Financial Services, whose name was changed to Springleaf Financial Services. The value of it increased by over 20 times its original value. Today, it’s valued at over three-million dollars.
Acquisition By Softbank
The Fortress Investment Group was the first company of its kind to go public. Ten years after doing so, the company was bought by the SoftBank Group Corporation. The company bought Fortress Investment Group for just over three-billion dollars. After the acquisition, Edens, Briger and Nardone remained at the company.
Fortress’ Current Operations
Fast forward to present day, Fortress’ current operations are divided up into three different categories. This includes permanent capital vehicles, credit and private equity.Those who may be interested in the services provided by Fortress are free to visit the firm’s official website. They can also contact them at their headquarters or one of their other offices via the phone.