Fortress Investment Group was founded in 1998 as a private equity firm by Randal Nardone, Wes Edens, and Rob Kauffman. With financial expertise based on the previous job experience, the three founders grew the firm. In its five years in business, the firm had managed to raise its assets to about $3.9 billion.
The firm quickly expanded from real-estate to debt securities and hedge funds. By 2007, the firm had grown from a simple private equity firm into a multibillion investment group with a 40% growth in equity funds. In 2014, Kauffman stepped down and ventured in car racing with Michael Waltrip Racing, leaving Edens and Nardone running the business.
In 2002, the firm made two new additions to its team. Michael Novogratz joined as fund manager until 2015 when he left the company. Peter Briger came on board as a principal and brought many years of experience along with him. With the two additions and several acquisitions, the Fortress Investment Group continued growing and expanding its portfolio. Then in 2007, the company traded publicly: This made it the first hedge fund to go public in the United States history, which boosted their profile and earned them a prominent name. Learn more about Fortress Investment Group at Bloomberg.
A decade later in 2017, SoftBank Group Corporation purchased the firm, at $3.3 billion. Even with SoftBank as the parent organization, Fortress Investment Group has made remarkable achievements and has been able to venture into new markets. This also goes for the parent organization, which has experienced success from the high-tech platform of the acquired firm. The two organizations have empowered each other in the one year they have worked together, and the acquisition makes much sense.
Fortress Investment Group’s key areas of specialty include financial markets, corporate mergers and acquisitions, operations management, and investing in assets. The firm currently operates in buyouts, credit, and Capital Vehicles. Briger leads the Credit division while Eden and Nardone lead the Private Equity division. The remaining division, on the other hand, is managed by five different entities with a critical focus in specific areas such as real estate and transportation infrastructure.
Fortress Investment Group is a trend maker and pacesetter in the investment industry. Ranging from subsidiaries to acquisitions, mergers, and considerable revenues, the firm has a lot to show for its two decades in business. Source: https://en.wikipedia.org/wiki/Fortress_Investment_Group