The Fortress Investment Group was founded in 1998 by three partners who all had a solid financial back group. Initially, they were interested in building a private investment vehicle that would help them to make investments and eventually grow these investments into something tangible. The determination of these three partners is today the celebrated Fortress Investment Group that was recently acquired by Softbank for 3.3 billion dollars as part of their 50 billion investment cash they intended to bring into the United States. The company has grown from what it was initially over the twenty-year period they have been in existence to what they are today. Although most people associate the Fortress investment Group with asset management, it has a diverse portfolio of activities, it does as part of their investment strategy. They today engage in.
This is their largest venture as a group. These assets are either fully owned, majority/minority owned or simply managed assets. Assets are part of the company’s long-term cash flow drivers. They include some permanent investment vehicles which are in most cases publicly listed companies that are in all the diverse sectors that Fortress invests in. This can range from media, real estate as well a transport and infrastructure which includes Brightline which is a private railroad company that operators out of Florida and recently opened a new route in Miami. SoftBank to Buy Fortress Investment Group for $3.3 Billion.
This entails the partial or complete takeover of a company’s operation. In most cases, the company may be serious in debt and on the verge of collapse. They specialize in advising the same and injecting the necessary capital and manpower to ensure revival. The Fortress Investment Group has the over the years developed tools that help them in evaluating operational, structural, and strategic abilities of any organization and establish what exactly needs to change for it to succeed.
Corporate mergers and acquisitions
For the Fortress Investment group, this is one of their most specialized areas. They can negotiate deals that are mutually beneficial for the companies looking to come together. They have done the same sometimes with tangible success.
Sector-specific knowledge of companies and institutions
This for them entails acquiring as much information about a given sector as possible. This is done by the hundreds of experts the company employees that have deep knowledge of different sectors and as such are able to make informed decisions on these sectors. This is especially true for their Credit division that is especially good at this.
When it comes to listing top asset management companies in the world, Fortress investment group never misses a spot. In fact, it tops that list thanks to its massive contributions, broad client base and incredible success. Ever since its inception in 1998, Fortress continues to set the pace for other asset management companies and was even the first large-scale private firm to go public during its IPO in the NYSE in 2007. Currently, the asset management giant boasts over $43 billion in assets under its management and serves more than 1700 investors as clients under its wing and is a source of income to over 900 people.
Nevertheless, all this success has not been handed to Fortress investment group on a silver platter but is thanks to its impressive management team led by Wes Edens, Peter Briger and Randal Nardone. The three principals boast remarkable career backgrounds as well, and that explains why they continue to steer the firm to greener pastures.
They use a unique strategy in which each principal heads a segment they are best in. For instance, ever since he joined Fortress in 2002, Peter Briger has been head of the credit segment, a department he has helped steer to incredible levels of success thanks to his exemplary leadership skills and vast experience and knowledge acquired from his previous ventures. Before he joined FIG, Peter Briger had been a partner at Goldman, Sachs & Co for close to two decades. It is during this period that Briger acquired the extensive skills he has now by purchasing assets considered worthless and selling them at a profitable price when the market stabilises. Additionally, he also attended various committees such as the Japan Executive committee which further helped empower him with more knowledge and skills in managing credit and illiquid investments.
Ever since he took over the reins of Fortress’s credit department, Peter Briger has done nothing but bring success to the firm. Today, Briger has over 300 individuals under his wing and using his unique leadership skills, helped raise approximately $4.7 billion for the company’s fund dubbed Fortress credit opportunities. Peter Briger has achieved many other milestones for Fortress, a factor that has seen him gain massive returns. For instance, with a net worth of two billion, Mr Briger now ranks 403 on Forbes List of self-made individuals and is also listed on Forbes top 400 business professionals in the United States.
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