Investment management which involves financial backing and various investment strategies by private equity firms is the principal service offered by Fortress Investment Group, headquartered in New York. However having been founded two decades ago, 1998, the group has high expertise and experience in a wide range of investment strategies which enables it to efficiently and effectively serve over one thousand seven hundred institutional investors and private clients globally. It is the first large-scale private equity firm in New York Stock Exchange which went public as highlighted in its last years, 2007, initial public offering hence continuing setting trend globally.
Fortress Investment Group founded by Rob Kauffman, Wes Edens and Randal Nardone who brought together their financial experience with a goal of coming up with a new type of investment firm. They began with $400 million in assets under management which has multiplied to over $ 43 billion. Kauffman retired in 2012 and joined car racing leaving Edens and Nardone as the only Principals who are founders and inclusion of Peter Briger as a principal.
The duration between 1999 and 2006 was the firm’s expansion time with over 40% growth witnessed then. After 2006 the firm focused on increasing the investment vehicles and the addition of the international focused funds to its portfolio. Fortress Investment Group profile has significantly risen after being the first alternative-asset investment firm to go public. The going public set the trend with other firms like the Blackstone Group and Oaktree Capital Group following the example. Fortress innovation and success has resulted in its global leadership recognition. The firm has received several awards from 2010 to date which includes; Credit-Focused Fund of the Year and Discretionary Macro-Focused Hedge Fund of the Year. It was also named the Management Firm of the Year and Hedge Fund Manager of the Year in 2014.
In 2017, SoftBank Group Corporation bought Fortress Investment Group at a price of $3.3 billion. Though bought by the Japanese multinational, Fortress continued to operate independently, and its principals did not change. The buying was strategic since it added investment expertise to the firm and this will help Fortress achieve information revolution.
As of now, Fortress Investment Group operations categorization is in three with each principal being in charge of one. The credit division is the first operation led by Briger, Nardone leads the Private Equity division which focuses on the generation of cash flow and the Permanent Capital Vehicle division led by Edens though dominated by the five already publically traded permanent capital vehicles managements.
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