Fortress Investment Group started out fairly modestly. It was established in 1998 by Wesley R. Edens, Rob Kauffman, and Randal Nardone as a private equity firm. However, it has since grown into a fairly significant force within the world of investment.
The New York-based firm started in private equity, but Fortress Investment Group soon expanded into hedge funds, real estate-related investments and debt securities. When it went public on the New York Stock Exchange (NYSE) in 2007, it had the distinction of being the first of its kind to be traded publicly; prior to that time, no other large private equity firm had made the shift.
Fortress Investment Group has a number of products that it handles. In addition to private equity, it has expanded into other areas over the years. These other areas include credit funds, railroads, hedge funds, and traditional asset management.
Since its founding, Fortress Investment Group has grown into an employer of more than 2,500 people. It has a number of subsidiaries. It also commands more than $1 billion in revenues, which makes it a significant force within the world of investment.
Over the years, the firm had built itself up as an attractive company. This included gaining note in 2014 as HFMWeek’s “Management Firm of the Year.” In 2017, the SoftBank Group acquired it for $3.3 billion. This acquisition helped to make the firm even stronger than it had been before with the Tokyo-based multinational backing it.
Part of Fortress Investment Group’s strength can be found in its subsidiaries. It currently has more than half-a-dozen subsidiaries, which give it a reach into various areas from ski resort to retirement homes. A few of the names currently on that list are Nationstar Mortgage, Railroad Acquisition Holdings, Newcastle Investment Corp, New Residential Investment Corp, and New Media Investment Group.