Wesley Edens: the co-founder at Fortress
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.