Fortress Investment Groups Big Moves that Made It a Global Investment Manager

Published / by soundproof

Fortress Investment Group was founded in 1998 by Wes Edens, Peter Briger, Randal Nardone and Rob Kauffman. The firm started as a private equity and after 10 years, it went public and started trading its shares as a public company on stock exchange. The alternative asset manager grew rapidly and its assets grew to worth $43 billion. The firm manages the assets for 1750 clients across the globe.

Fortress Investment Group has a vast expertise in operations management, sector-specific knowledge of companies and institutions, capital markets, M&As as well as asset-based investing. In those areas, the firm has proven to be highly experienced.

The story of the journey of Fortress Investment Firm is remarkable because it only took 5 years to turn just $400 million investment to $3.9 billion, amazing, right? The company’s principals and leadership took up a cutting-edge alternative asset manager strategy that propelled it to where it is now. Its initial investments included real estate investments in Toronto and New York as well as venturing into debt securities and hedge funds.

Fortress Investment Group strengthened its leadership team by bringing on board Peter Briger and Michael Novogratz. Michael Novogratz previously worked at Goldman Sachs as a fund manager. The firm added several companies into its portfolio including Intrawest, Penn National Gaming, RailAmerica as well as Florida East Coast Industries.

Lately, the firm has made big moves. It was recently acquired by SoftBank, a Japanese multinational. The acquisition deal which was worth $3.3 billion saw the investment firm start operating as a private company. However, the company has maintained its operations as normal with Peter Briger, Wes Edens and Randal Nardone remaining as principals.

Fortress Investment Group’s mission has always been growing and increasing its presence across the world. The principals were excited about the deal as they continued to pursue its mission of global reach. Even as the new developments takes shape, the asset management firm has purchased a popular building in Worth Ave from Tiffany. The New-York City-based investment firm acquired the building in Palm Beach for $20 million and it plans to add office spaces to the building in the near future. That is the latest deal that the firm has made after its acquisition.