Fortress Investment Group: From Debt To Cars

In 2012, Randal Nardone founded Fortress Investment Group. The two other Co-founders were Wes Edens and Rob Kauffman. They combined their experiences together from previous jobs such as BlackRock Financial Management, Goldman Sachs, Lehman Brothers and UBS. The goal was to create something new like an alternative assets strategy they implemented in the company. Soon, Fortress was controlling an astounding $3.9 million up from $400 million in just five years. In 2007, the assets had jumped to an unbelievable amount of $32.6 billion. The first investment vehicle started in 1999.

They called it the Fortress Investment Fund I. Early on when they started Fortress, management focused in the real estate market in Toronto and New York. The business grew rather to expanding operations to hedge funds and debt. Fortress Investment Group was moving at a quick pace and had private equity funds rising from 40 percent during the years of 1999 to 2006. Nardone and Edens have a hands approach for their operation style for the business regarding its daily operations. Kauffman, after 15 years, wanted to focus on a life-long dream of car racing. That said, he purchased 50 percent of the Michael Waltrip Racing company that drives in NASCAR each year.

Next, he created RK Motors Charlotte which is a vintage restoration for “muscle cars.” Kauffman has driven in some well known races. One is the 24 hours of Le Mans and 24 House of Daytona. He is also a part of the ownership for Chip Ganassi Racing. The business fields cars for the several racing series and the IndyCar series. In the first 10 years, Fortress Investment Group experienced a hard driving traumatic ride since its first IPO. However, by 2006 it had the Fortress Investment Fund went from I, II, III and IV versions in a matter of time. They added additional funds such as the Long Dated Value Funds, Fortress Partners Fund, Fortress Brookdale Investment Fund, the Drawbridge Special Opportunities Fund and more. Fortress Investment Group will continues to grow and be a strong leader in the financial markets.

The Impact of Fortress Investment Group in the Industry.

Fortress Investment Group LLC, a leading investment manager globally, was established in 1998 in New York. Its founders were Randal Nardone, Rob Kauffman, and Wesley R. Edens.The company started as a private equity firm but has grown over the years and diversified its management strategies to cover credit funds, hedge funds, permanent capital investment vehicles, liquid markets, and traditional asset management. The firm has also increased its clientele, and now it’s poised to have over 1,800 private and institutional clients investing with them. Fortress has expanded its target market to cover not only New York and the United States but also external investment markets worldwide. It has achieved this by employing approximately 1,000 additional employees to serve the markets and also establishing satellite offices outside New York and around the world. This has enabled the company to greatly increase its asset base. For instance, at the end of 2017, Fortress had assets under management amounting to over $43.6 billion.

In 2010, Fortress Investment Group was involved in several aspects in the Winter Olympic Games that were held in Vancouver, British Columbia, Canada. First, the firm was among the main money suppliers for the Athlete’s Village that had been built in downtown Vancouver, a project which had a budget of $1 billion. They also dominated Whistler Blackcomb, which was the dominant skiing site for those Olympic Games. They also owned Intrawest, a ski resort company owned by Whistler and headquartered in Canada, which Fortress had purchased back in 2006. Fortress Investment Group is proud of possessing five core competencies that distinguish the firm from other investment organizations. These competencies are wide industrial knowledge, being asset-based, corporate mergers and acquisitions, capital markets and effective management of operations. This is proved by the investment professionals that the company has employed who have specialized their expertise relative to specific industries. The investment experts have also established concrete professional relationships with top companies, high net worth individuals and institutions in every industry in which they invest. This has enabled the company to enhance its customer satisfaction.

About Fortress Group

Fortress Investment Group is a global investment management leader, having over $43.6 billion in assets under management. It’s headquartered in New York but operates internationally with the help of satellite offices established all over the world. The firm is poised to have a client base of over 1,800 clients, both individual and institutional, and also from the United States and worldwide. It invests and manages a variety of assets like permanent capital investment strategies, private equity fund and many more; on behalf of its clients.