Trend-setting Hedge Fund Managing Company Fortress Investment Group
After the private equity firm known as Fortress Investment Group was founded in 1998 by business partners Wes Edens, Rob Kauffman and Randal Nardone, it eventually grew to become one of the most successful businesses of its kind. Headquartered in New York, the firm manages over $40 billion in assets for clients all around the world. It has a focus on investing in distressed assets, which is the kind of debt that other investors are not likely to put funds into, and that can be purchased from banks that are forced to sell them off due to the fact that they are considered to be risky and non-performing. Because regulatory changes and shareholder demands cause banks to have to continue to get rid of these types of assets, Fortress Investment Group takes advantage of being able to buy them at low prices, then the company sells them at higher rates to make large profits. Check out fortress.com to learn more about fortress investment group.
In 2007, Fortress Investment Group became the first firm of its size to be publicly traded on the New York Stock Exchange, and due to its rapid growth, it was named Hedge Fund Manager of the Year by Institutional Investor magazine, and Management Firm of the Year by HFM Week, a news and information publication for the global investment industry. As of the middle part of 2019, the company had over 1,000 employees who handle asset management for its more than 700 international clients and private investors. In addition to being highly experienced in strategic investing practices, Fortress Investment Group is also knowledgeable in the area of corporate acquisitions and mergers. Its founders had been a part of the financial industry for a number of years before starting the business. Peter Briger, who is a Principal at the firm, and its Co-Chairman, held a position at Goldman Sachs and Company for 15 years before joining Fortress, and its other top executives also worked within other businesses in this sector. Co-founder Wes Edens worked as a Managing Partner at the Black Rock Financial Management firm, and he is the owner of the NBA team known as the Milwaukee Bucks, as well as several other sports teams.