New York City-based investment management firm Fortress Investment Group was founded by Wesley Edens, Randal Nardone and Rob Kauffman in 1998. The organization is one of the largest hedge fund management groups in the world and maintains a staff of 900 highly qualified people. Fortress Investment Group holds the prestigious distinction of being the first large private equity group to become publically traded on the New York Stock Exchange and manages assets in excess of $70 billion. The types of assets that Fortress manages include real estate, private equity firm and credit.
Fortress Investment Group has sought from its earliest period of operation to be a leading innovator in investment field. This has led the firm to become massively successful and to amass an impressive portfolio that includes in excess of 1700 investors. The firm also has an impressive level of expertise in areas ranging from mergers and acquisitions and investing based on assets to the management of operations and capital markets.
During Fortress Investment Group’s first ten years of operation, the firm worked tirelessly to build up an impressive base of investors. By the time 2006 rolled around, the firm had expanded its original fund into numerous ones including the Fortress Partners Fund, the Drawbridge Global Macro Fund and the Long Dated Value Funds. That initial first decade also saw the arrival of two critical individuals who would be at the core of the growth of Fortress Investment. Formerly with the prestigious financial institution Goldman Sachs, Michael Novogratz joined the team at Fortress Investment Group in 2002 in the critical role of a hedge fund manager. He was joined that same year by former Goldman Sachs employee Peter Briger. That first successful decade as also characterized by some critical acquisitions that included RailAmerica, Penn National Gaming and Intrawest, among others.
Fortress Investment has also expanded its operations significantly since opening its doors in 1998. In 2011 the firm opened its second U.S. office which is located in San Francisco, California. Offices in Singapore and Shanghai soon followed. This expansion was followed by a string of prestigious awards in the financial industry.
The success of Fortress Investment culminated in the 2017 purchase of the firm by Japanese company SoftBank Group Corporation. The $3.3 billion purchase price is a true testament to the value that the Fortress brand has built up in its nearly twenty years of operation.
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