The history of Fortress Investment Group is incredibly important as it marks the first company to be publicly traded on an open market in North America in the private equity industry. Five people in the year 1998 founded the company. Today the current chairman and founder of the company is Wes Edens. Wes Edens is an interesting man as he is both a prominent businessman and entrepreneur as well as the owner of several sports teams across the nation.
He owns a member of the national basketball Association that is based out of Milwaukee Wisconsin, the Milwaukee Bucks. In addition to his physical sports teams ownership, he also owns a video game team that plays in the electronic sports league. This team is known as FlyQuest and plays the video game league of legends.
While he has primarily been known as the founder of Fortress Investment Group’s Wes Edens started his life by going to Oregon State University. At Oregon State University he earned his bachelors of science degrees in both finance and business administration. He graduated from the University in 1984. After graduating from the University, he began his career in the finance industry by working for financial investment firm Lehman Brothers. At Lehman Brothers, he served as a partner and managing director from the years 1987 through 1993. In 1983 he made a change of pace and switched to Blackrock asset investors where he remained as a partner and managing director for the investment firm until 1997. In 1997 he along with four other individuals came up with the idea to launch their own private equity investment firm. This idea came to fruition in 1998 when Fortress Investment Group was launched.
Fortress Investment Group experienced a significant amount of growth during its initial years. From 1998 until 2006 the company was able to grow the assets that it managed by over 40%. In 2007 the company made the history books by becoming the first publicly traded private equity investment firm in the United States of America after holding its initial public offering with the help of Lehman Brothers and Goldman Sachs. During its IPO the company was able to sell $600 million worth of shares amounting to around 8% of the company. In 2017 the company was purchased by Japanese technology giant Softbank group. With the expert guidance of Wes Edens, the company was able to generate $140 million in revenue from the corporate acquisition.
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