FORTRESS INVESTMENT GROUP

Fortress Investment Group was founded in 1998. It is an investment firm based in New York. The idea of forming the firm came to actualization after former colleagues came together to achieve a common business goal. The founders were Wesley Edens, Randal Nardone, and Rob Kauffman. The management committee consists of three principals who are Peter L. Briger, Jr, Wesley R. Edens and Randal Nardone who is the acting CEO.Fortress Investment Group has specialized in asset management, credit, liquid markets and investments in private equity. The credit department was created in 2002. Peter Briger was behind the idea. The department has remained under the control of Briger and Dean Dakolias both who are Co-CIOs. The department has a hundred experts in fourteen different locations who are responsible for asset control. In the private equity sector, the company has invested in transport, energy, infrastructure, financial entities, and healthcare.

Although the company has invested in these areas at the moment, it is still open to investing in other areas. This department has been operational since the formation of the company. Wes Edens and Randal Nardone head it. The deployment of aggressive, opportunistic investment combined with practical management has made the department a success. In the year 2007, Fortress Investment was listed on the New York Stock Exchange. It was the first private equity company with tremendous market presence to be listed on NYSE. The firm was also the primary source of credit to the Millennium Development Group responsible for setting up the athletes’ village. Fortress Investment assumed ownership of the village after 2010 winter Olympics.

Although Fortress Investment Group had already started establishing its international presence, it reinforced this by opening new offices in Shanghai and Singapore in 2011. The same year the firm also opened offices in San Francisco. Last year (2017), at the Alt Credit Intelligence US Performance Awards, the firm received recognition for the outstanding achievement by a credit firm. SoftBank group acquired Fortress Investment Group LLC for 3.3 billion in 2017. The technology company made a move to benefit from the financial expertise that Fortress Investment has. With the leadership and experience of Wes Edens- a former managing director at BlackRock, Robert Kauffman- a former principal at BlackRock and former MD at UBS and Randal Nardone former MD at UBS, Fortress Investment is in the right hands. The firm can only grow even with changing business environments.

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