Since its launching in 1998, Fortress Investment Group has been a role model to other companies in the investment management industry. The company was founded in 1998 by three principals, Wes Edens, Randal Nardone, and Rob Kauffman – who retired in 2012-. Formerly, they worked in the financial sector for firms such as Goldman Sachs, Lehman Brothers, BlackRock Financial Management, and UBS. The company welcomed two key management officials in 2002, Michael Novogratz and Peter Briger who were formerly working for Goldman Sachs. Starting from 2006, the company made several acquisitions including the Penn National Gaming, the Canadian Company Intrawest, RailAmerica, and Florida East Coast Industries.
Fortress Investment Group was recorded as the first private equity firm to go public in the New York Stock Exchange, with other companies such as Apollo Global Management, Oaktree Capital Group, Ares Management, Carlyle Group and Och-Ziff Capital Management Group coming in tow. Fortress Investment Group acquired AIG’s American General Financial Services, later re-branded to Springleaf Financial Services. The company flourished to open other headquarters in San Francisco, Shanghai, and Singapore.
Recently, a Japanese banking giant Softbank Group Corporation acquired Fortress Investment group at the cost of $3.3 billion. The amount was divided among the co-founders according to their ratios of investment. Fortress continues to operate as an independent entity in New York with the workforce, and the principals retained. Softbank Group manages great portfolios in the telecommunications, artificial intelligence, smart robotics, internet services, and clean-energy technology. Softbank is dedicated to investing and supporting the next stage of Information Revolution, with the acquisition of Fortress being the strategic action to the addition of investment proficiency. A Force of Innovation: Two Decades of Fortress Investment Group
Fortress Investment Group continues to specialize in the investment sector. Presently, the company operates in three main sectors, Private Equity, Permanent Capital Vehicles, and the Credit division – initiated in 2002 and headed by Peter Briger. The Credit division comprises of several firms including Fortress Japan Opportunity Funds, Drawbridge Special Opportunities Funds, Fortress Real Estate Opportunities Funds, Fortress Credit Opportunities Funds, Fortress Japan Income Fund, Drawbridge Long Dated Value Funds, Fortress Secured Lending Fund, and Drawbridge Real Asset Funds. The company has significant holdings in its Private Vehicles division and the Permanent Capital Vehicles division. Click here