Fortress Investment Group: A Leader in Alternative Assets Management

About the Fortress Investment Group

Fortress Investment Group is a manger in alternative assets. It specializes in Credit Fund, Private Equity, and Liquid Hedge. The firm was founded in 1998 by Wesley R. Edens who served as a partner in BlackRock Financial management. Wesley partnered with two other people namely Randal Nardone who is also affiliated with UBS and finally Rob Kauffman who also has ties to the UBS. The three individuals decided to put their investment knowledge to good use and together, they built Fortress Investment Group. The company investment has been growing at a high rate. Between 1999 and 2006, the Group had managed to draw in a private equity fund which averaged 39.7%.  One of the company’s breakthroughs came in 2007 when it was listed on the New York Stock exchange, which is where the company’s headquarters are based. This marked a new chapter in both the company’s growth and the country’s history given the fact that it was the first time in the United States that a private equity fund of its magnitude had been publicly traded. This brought forth more recognition to the company and was even featured in the Vanity Fair article in 2009. In 2010, the company was publicly recognized by Institutional Investor and was given the title “Hedge Fund Manager of the Year.” This was not the only recognition the company received. HFMWeek named it “Management Firm of the Year.”

Acquisition of Fortress Investment Group by SoftBank

The SoftBank Group had earlier stated that it would be purchasing the Fortress Investment Group. The company, later on, went ahead to announce that it had completed the acquisition at $3.3 billion which was paid in cash. The purchase took place after all conditions put in place had been met. Therefore, Fortress Investment Group will now operate in SoftBank but its New York offices will be an independent headquarter. It will be up to SoftBank to maintain the leadership position that Fortress Investment Group had managed to build all these years. It will also be tasked with the responsibility of preserving the work culture and ethical conduct maintained by Fortress Group.

Key People

Fortress Investment Group is run by a competent and professional team. Some of its key people include Peter Lionel Briger who is the acting principal and co-chairman, Wesley R. Edens who is not only a co-founder but a principal and co-chairman as well. Randal Nardone who is one of the three founders is the company’s CEO and also a co-principal. Daniel Neal Bass is the treasurer and CFO and Gordon Runte, the Managing Director.

Final Word

Fortress Investment Group has built a name for itself in the investment sector. Even as the company operates under SoftBank Group, its legacy will still live on. The firm takes pride in its workers as well as its duty to its client. It has worked closely with several companies such as Center Bridge Partners and has also made acquisition of its own, which is evidenced by the 2006 acquisition of Canadian Ski Resort.

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