Fortress Investment Group is an investment management firm founded in 1998 by Randal Nardone, Robert Kauffman and Wesley Edens. Nardone and Kauffman had been UBS managing directors and Edens was a BlackRock Financial Management former partner. The headquarters of the company is in New York City. Initially, Fortress Investment Group was a private equity firm. However, the company’s focus quickly expanded to include debt securities, real estate-related investments and hedge funds. Fortress brought in former Goldman Sachs partners Peter Briger and Michael Novogratz to handle those activities.
In 2007, Fortress Investment Group became America’s first publicly traded large private equity firm. The company’s founders were instantly billionaires. The company’s well managed highly diversified international investments has helped it to weather the 2008 economic downturn and emerge with over $36 billion in assets under management. Fortress Investment Group’s experienced, knowledgeable leadership and excellent investment strategies has led to its success. By mid 2016, the company was managing alternate assets in credit funds, private equity and liquid totaling $70.2 billion.
Fortress Investment Group manages the assets of more than 1,750 private investors and institutional clients from all around the world. The cornerstone of the company’s success is the performance of their investments and their ability to provide investors with strong, long-term risk-adjusted returns. During its 20 years of existence, Fortress Investment Group has grown to have a staff of 969 asset management employees spread throughout their global affiliate offices. This includes 216 highly skilled investment professionals who help to make their clients’ goals a reality.
The core competencies of Fortress Investment Group include their effective asset-based investing, operations management, industry knowledge, expertise in corporate mergers and acquisitions and understanding of the global capital markets. The company’s vast experience in financing, owning and management of diverse financial and physical assets and ability to secure long-term cash flow streams is another of its strengths. The commitment of Fortress Investment Group’s leadership to creating and maintaining solid corporate governance policies as well as practices has helped them to establish a frame work that engenders accountability and integrity in their activities.
When Millennium Development Group was building the athletes’ village in Vancouver, British Columbia to be used during the 2010 Winter Olympics, Fortress Investment Group agreed to provide them with most of the $875 million they needed for the project which was completed in 2009. As a result, when the 2010 Winter Olympics ended, ownership of the facility was given to Fortress Investment.
Since its inception Fortress Investment Group has won many accolades and awards. They include being named ‘Credit-Focused Fund of the Year’, ‘Discretionary Macro-Focused Hedge Fund of the Year’, ‘Management Firm of the Year’ and ‘Hedge Fund Manager of the Year’ between 2010 and 2014.
Recently, Softbank Group Corporation, a Japanese company led by founded Masayoshi Son, acquired Fortress investment Group for $3.3 billion. Softbank will leave Fortress’ leadership team of Wesley Edens, Peter Briger and Randy Nardone in place and allow the company to continue to function as an independent entity within Softbank.
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