The Success of Fortress Investment Group

Fortress Investment Group

Founding

Fortress Investment Group was established in 1998. The firm was founded by three individuals who are described to be among the greatest brains in the financial industry. Randal Nardone together with Wes Edens and Robert Kauffman were behind the establishment of Fortress. The three individuals are notable in the finance industry having worked with notable firms such as BlackRock Financial Management, UBS, Goldman Sachs, and Lehman Brothers where they held prominent positions.As they were founding the firm, the trial had an ambition of creating a new type of an alternative asset investment firm. When they began operations, they had $400 million of assets under their management.

Five years after the establishment, the firm had managed to obtain $3.9 billion of assets under their management. In 2007 Initial Public Offering, Fortress Investment Group decided to go public. It became the first most prominent alternative asset investment firm to go public in the New York Stock Exchange Market. In this manner, the firm had attracted numerous firms and private investors. Thus, the firm was managing $32.9 billion of assets.In 1999, the investment group launched its first alternative asset strategy vehicle referred as Fortress Investment Fund I. By 2006; the investment vehicle had expanded and produced Fortress Investment Fund I with versions II, III, and IV. Randal Nardone and Wes Edens still play a significant role in the management of the firm while Robert Kauffman retired 15 years ago.

Leadership

Fortress Investment Group is under the best management. The firm is managed by individuals who understand the firm better. For instance, Randal Nardone has been in the financial sector for more than three decades which makes him an expert in the industry. Fortress Investment is managed by three Principals. Randal Nardone currently serves as the Chief Executive Officer of the firm since 2013 and is based in New York. Wes Eden plays an active role as a managing partner. Finally, Peter Briger us a managing principal based in San Francisco.

Acquisition by Softbank

Fortress Investment Group was recently acquired by Softbank at a price of $3.3 billion. Softbank is a Japanese investment firm that manages a wide range of portfolio. Despite the acquisition, Fortress will still operate independently and will retain the three principals in the management. The employees of Fortress Investment stated that the acquisition by Softbank is an opportunity for growth.

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