Asked to name the leading international investment managers, Fortress Investment Group would appear on top of any honest person’s list. This investment firm was started as a private equity firm in 1998. Later on, Fortress grew into an alternative asset strategy firm after diversifying its investment strategies to manage hedge funds, credit funds, and permanent capital vehicles. The leadership at Fortress is also a success pillar for the organization, under its three competent principals; Randal Nardone, Wes Edens, and Peter Briger.The operations of Fortress Investment Group are currently categorized into three distinct segments namely; permanent capital vehicles, private equity, and credit sections. The first one to be launched was the private equity division. This was the one formed during the foundation or the company with the aim of generating cash flow from control-oriented investments in North America, Western Europe, and the Caribbean. The operations of this segment are grounded on the experience of Fortress’ personnel who have extensive experience in asset management from all the specific economic sectors.
The second division is the credit segment. This was launched later in 2002 after the arrival of Peter Briger at Fortress Investment Group, and he still leads the division to date. It consists of Fortress Japan Opportunity Funds, Fortress Credit Opportunities Funds, Fortress Real Estate Opportunities Funds, Drawbridge Special Opportunities Funds, Fortress Secured Lending Fund, Drawbridge Long Dated Value Funds, and the Drawbridge Real Assets Funds. The investments in this division have a global nature and are more concentrated on undervalued assets, illiquid credit investments and distressed assets. Alongside Briger is Dean Dakolias, who also leads the division after joining Fortress in 2001. The third division is permanent capital vehicle segment. It mainly focuses on management of permanent investment vehicles that are traded publicly. They include New Senior Investment Group, Fortress Transportation and Infrastructure Investors LLC, Eurocastle Investment Limited, the New Media Investment Group and New Residential Investment Corp. The main focus of these entities is on transportation infrastructure, local media assets, residential real estate, and senior housing in the United States.
Fortress is currently proud of having employed more than 1,100 members of staff who help the company run its operations globally. Out of the large number of personnel at Fortress, over 200 are investment professionals who have vast and specialized skills to manage investments from all the sectors of the economy. Fortress Investment group manages investments for over 1750 clients who are both individual and institutional investors from all over the world.
Wesley Edens is among the co-founders of Fortress Investment Group in 1998. His fellow co-founders were as Randal Nardone, Peter Binger, Robert Kauffman, and Michael Edward. In 2007, the Wall Street Journal proclaimed his style of investment was that of creative financing, contrarian bets, and building companies from mere investments. Eden began his career at Lehman Brothers in the year 1987. He became partner and managing director up to the year 1993. Blackrock Asset Investors was the next step in the career of the man. He continued to serve as the managing director and partner at Blackrock. He worked there until 1997. Thereafter, they founded Fortress Investment Group. The co-founder went to the Oregon State University where he pursued a Bachelor of Science in Finance and Business Administration. It was in the year 1984.
Fortress Investment Group is a financial institution that deals with real estate and vehicle lending activities. The group started as a private equity firm and it has grown to be among the leading investment companies in New York. In 2007, its Initial Public Offering to increase by a large margin when it went public. As of recent times the firm has bagged over $40 billion with over 1,750 investors in hedge funds, permanent capital and private equity. With more than 900 workers, the firm is undoubtedly a large investment bank. Fortress main aim is to put in high risks with the hope that the pendulum goes and comes back with high returns.The main agenda lies in five different areas, asset-based financing, operation management, corporate mergers and acquisitions, capital markets, and sector-specific knowledge of financial markets. On asset-based funding, investments entail private equity and credit funds.
Such environments there are a variety of assets that create long-term cash flow for the firm. Financial items that bring the cash flow include real estate, capital for businesses, and issuance if vehicles. In regards to technical knowledge in finances, they have a skillset in that sector. Fortress recently merged with Asia’s Softbank. It is a perfect example of mergers and acquisition function.Also, they maintain good relations with both the employees and their corporate board members. It is an aim by the organization to harmonize everyone working for them in whichever capacity. Eden was behind another merger between Fortress Investment Group and Springleaf Financial services previously known as American General Finance, (AIG). Fortress became the majority shareholder thus they became partners and merged their businesses. In August 2010, Fortress acquired 80% of Springleaf for 125 million dollars. Fortress then went ahead to build out financial services within its private equity docket, which is at about 14.3 billion dollars in assets.
Peter Briger is a prominent businessman in the financial industry. He graduated from Princeton in 1986 with his bachelor’s degree. He has also earned a master of business administration from the University of Pennsylvania’s Wharton School of Business. After graduating he found a position at Goldman, Sachs & Company. He spent 15 years at Goldman Sachs and was named as one of this firm’s partners in 1996.He left Goldman Sachs in order to join a new investment firm at the time, Fortress Investment Group, LLC, in 2002. It was in March 2002 that Peter Briger was named to this firm’s Management Committee. He was named to Fortress Investment Group’s board of directors in 2006 and in August 2009 Peter Briger was elected as the Co-Chairman of the board. He is also now a principal of Fortress Investment Group.
Fortress Investment Group is headquartered in New York, New York, and Peter Briger works out of their San Francisco offices. Fortress is a global alternative asset investment firm. As of the end of 2017 Fortress had about $43.6 billion aum. He is currently the principal of co-chief executive officer of this firm. He oversees this company’s credit business. The credit-side of Fortress makes up $15.1 billion of their assets under management.As the credit manager, Peter Briger focuses on undervalued and distressed credit. He buys assets as well such as real estate, natural resources, precious metals, intellectual property, and capital assets. These areas have been his specialties throughout his career, both at Fortress Investment Group and at Goldman Sachs.
In the wake of the 2008 recession Peter Briger says that he found a goldmine from distressed assets for sale. He says many companies were actually in good shape but their stock and value plummeted along with the rest of the market. There were also really great real estate deals to be had as that asset also sunk in value. As the economy has recovered he says there remain great distressed assets to be had, especially when it comes to the financial industry.Peter Briger is also a philanthropist who has helped several causes. One of these is Tipping Point. He has been on this nonprofit’s board for a number of years. Tipping Point provides services to low income families in the Bay Area. Over the years he has also invested in New York’s Central Park to the tune of $600 million among other causes. Learn More.