Since the time it began, Fortress Investment has for a long time been setting the pace in the industry. The company has expanded over the years; the company is administering assets totaling over forty-three billion dollars. 1750 investors are linked with the company getting services in hedge funds, permanent capital vehicle and private equity. The company guarantees strong risk-adjusted returns for investors who have long-term ambitions. The leadership provided by the management is solid. Two of the top executive were founder members. Randal Nardone, Wes Edens, and Rob Kauffman founded Fortress Investment Group in 1998. All the founding members have been with the company providing the much needed personal touch needed during the initial stages.
The founders had previously worked together which created ready chemistry. They also brought with them sound expertise and deep experience from well-known companies such as BlackRock Financial Management, the Goldman Sachs, and UBS. Fortress Group grew rapidly, and in 2007, it was among the first of its kind in New York to go public in the stock exchange. Fortress Investment Group’s main goal at the time was to provide an alternative-asset strategy that upgrades private equity into advanced capital vehicles. The core areas of specialization are clearly defined as; asset-based investing, operation management, corporate mergers, sector-specific knowledge and capital markets. Fortress has created investing and innovative mechanisms which make value extraction from its investments very efficient.
Recently, Softbank Group Corp acquired shares in Fortress Investment Group. The move is set to make Fortress Investment Group operate within SoftBank but independently based in New York. SoftBank has however insisted that leadership will remain in place to ensure certainty and continuity of success. The culture and business model is also set to be retained. Peter Briger will continue as the Co-chairman, and Randal Nardone continues as the CEO. Two decades of operation has seen Fortress Investment Group gain experience in managing acquisitions and mergers. The interaction and network that personnel from Fortress enjoy with a variety of corporate stakeholders, board members, and management professionals. The clientele that deals with Fortress Investment trust the company because of its impeccable track record in managing portfolio companies.
Wes Edens applied his reading, writing and arithmetic skills and other academic and business acumen throughout his professional life serving him well. Mr. Edens earned a B.S. in Business from Oregon State University. During the 1990s, Wes Edens established his professional credentials in money management working for Lehman Brothers, BlackRock and the Swiss Bank UBS before co-founding Fortress Investment Group. Wes Edens is married and has one son and two daughters. Incidentally, his daughter Mallory, has expressed interest in owning the NBA New York Knicks someday. According to totals by Forbes, in 2016 and 2017, the Knicks were the most valued NBA team at an estimated $3 billion.
At the time the current team owner appeared disinterested to initiate a sale. In 2016, “Bizjournals” reported that Wes Edens total take-home pay from all consolidated income was an estimated $54 million. Moreover, at one point he held a reported 63 million shares of stock in Fortress Investment Group. Dividends were figured into his total take-home pay. Mr. Edens co-founded Fortress around 1998, and in 2007, it began trading on the New York Stock Exchange. He served as co-chairman of the company, and also a position on the seven member company board. In 2014, Mr. Edens co-invested in the NBA’s Milwaukee Bucks, which sold for a reported $400 million.
Moreover, a new arena was built to boost attendance and to serve as a venue for off-season activity such as concert performances. The Bucks last had a championship team in the 1970s. Mr. Eden’s mother is a native Wisconsonian. Mr. Edens is involved with the Milwaukee community. He provides team players of financial advisement towards income investment. He also appears at middle school and senior high schools in the area as a motivational speaker to students, and will occasionally have a handful of students attend a home game. One of his cliches is, “This isn’t a movie, this is your life.”
You can look at the 20 year history of Fortress Investment Group and see that this is a private equity group with a story to tell. Anyone who cares to look at the history of this group can tell you they’ve done some serious work in helping the public earn more respect for private equity. In fact, Fortress Investment Group was the first private equity group to be publicly traded. That changed everything for the better when people finally realized there was a potential for profit and did what they could to help foster it for their own interests. With billions to prove their success, Fortress Investment Group has come a long way.
Fortress Investment has focused on a combination of liquid hedge funds, credit funds, and private equity to get them where they are. That combination has worked wonders for them and placed them in a place where few others are. They now control over $70 billion in assets and they have even more to grab. The ambition that has allowed them to reach where they are now is something everyone would like to have. It isn’t easy to make into the private equity world and it’s hard to get to the point that you have billions to work with. That happened over the course of a long time and it continues to grow. Hedge funds are some of the most difficult investment portfolios to manage. Only those who are top ranking investors can truly understand what it takes to do so.
Fortress Investment Group has gotten as far as it has today because it is able to pick itself up after a huge loss. The 2008 recession did considerable damage to Fortress Investment Group but the firm was able to recover because it focused on trying to give the world the best that it can offer. When you come in with that mindset it’s not hard to make a full recovery. You will always find great investors who want to partake in that and are willing to do everything they can to support it. Fortress Investment Group is designed in such a way that it can always weather any storm and will have investors lining up to join in. The last 20 years have been an amazing ride for Fortress Investment Group and there is certainly more for them ahead. Looking at the bright road ahead shows nothing but promise.