Fortress Investment Group is a New York based alternative asset management firm that’s among the largest in the world. Co-founded in 1998 by former Blackrock Financial Management Inc. partner Wesley Edens and UBS managing directors Randal Nardone and Robert Kauffman, the company was initially a private equity firm. However, by the time it became the United States’ first large publicly traded equity firm in 2007, Fortress Investment Group had expanded its services to include debt securities, real estate-related investments and hedge funds and brought in former Goldman Sachs partners Peter Briger and Michael Novogratz to run those divisions.
The company has grown tremendously since its founding. It now has over $70 billion in assets under management for more than 1,750 private investors as well as institutional clients all around the world. Fortress Investment Group has 216 investment professionals as part of its over 953 asset management employees working in satellite offices in Atlanta, Georgia, Dallas, Texas, New Canaan, Connecticut, Los Angeles and San Francisco, California, Frankfurt, Germany, Rome, Italy, Sydney, Australia, Hong Kong, Shanghai China and Tokyo, Japan. This enables it to effectively serve its steadily expanding global client base.
A very diversified global investment firm, the core competencies of the Fortress Investment Group includes asset-based businesses, capital markets, corporate mergers and acquisitions, operations management and industry knowledge. The company is also known for its excellent permanent capital, private equity, real estate and credit investment strategies. Fortress Investment Group has vast expertise and experience with a diverse group of asset types. That includes owning, financing, pricing and managing countless financial and physical assets that create long-term cash flows.
When the Millennium Development Group needed $875 million to build the 2010 Winter Olympics’ athlete’s village in Vancouver, British Columbia, they turned to Fortress Investment Group. When the games were over, ownership of the property was given to the investment firm. Since then, Fortress Investment Group has received many accolades and awards. In 2014, HFMWeek voted the company ‘Management Firm of the Year’. Institutional Investor recognized Fortress as ‘Credit Focused Fund of the Year’ in both 2010 and 2011. In 2012, it named the company ‘Discretionary Macro-Focused Hedge Fund of the Year’ and voted the firm ‘Hedge Fund Manager of the Year’ in 2014.
The Japanese company Softbank Group Corporation was so impressed with the work of Fortress Investment Group, Softbank purchased the company for $3.3 billion in December 2017. In recognition of Fortress’ exemplary work, Softbank has stated Fortress Investment will remain an independent entity within the Softbank Group. The Fortress’ leadership team has been so effective in helping it to flourish, Softbank’s owners asked them to remain in their current roles and continue to do the excellent job they have done running the company for the past 20 years.
Fortress Investment Group recently loaned Theramos, a medical start-up, $100 million to help it remain solvent and viable. Fortress is also the parent company of Florida’s Brightline passenger rail service. It’s the USA’s only passenger railroad service that’s privately owned and operated.
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