Fortress Investment Group with over two decades of experience in dealing with investment management.Fortress Investment Group, LLC is a firm that deals with investment management in the aspects of management of assets, credit, private equity and liquid markets. The company was founded in the year 1998 with the five core partners. These core principles include Randal Nardone who is serving as the interim Chief Executive Officer; Peter L. Briger serves as the co-chairman of the board of directors for the company. Wesley R. Edens is also the co-chair of the board of directors and was the co-founder of the organization. Michael Novogratz came on board when the firm decided to venture into real estate, hedge funds, and debt securities. Wesley R. Edens was formerly working for BlackRock Financial Management Inc as a partner. Randal A. Nardone formerly worked as a managing director for UBS before joining Fortress Investment Group. Before Fortress Investment Group, Pete Briger and Michael Novogratz were working as a partner for Goldman Sachs.
Between the years 1999 through to 2006 Fortress Investment Group experienced an exponential growth cumulatively having their private equity funds at 39.7%. The company has its headquarters located in New York City on the 1345 Avenue of the Americas. In the year 2007 Fortress Investment Group was launched on the New York Stock Exchange(NYSE) and became the first private equity organization to be publicly traded in America. The organization has gone through ups and downs, and the most significant of all was the economic crash of 2008. This was a time when the hedge funds were facing a very tough economic time. In the 2010 winter Olympics, the organization was the key lender to Millenium Development Group that was tasked with building the athlete’s village. The village came to a completion in November 2009, and Fortress Investment Group acquired the village after the Winter Olympics in 2010.
The firm has been recognized by many financial institutions in the field of asset management and private equity funds. Institutional Investor recognized Fortress Investment Group as “Hedge Fund Manager of the year” in 2014.Also in 2012, Institutional Investor recognized the organization as “Discretionary Macro-Focused Hedge Fund of the Year” in 2011 and 2010 recognizing the firm as “Credit-Focused Fund of the Year.” Reports indicate that Fortress Investment Group had businesses that cumulatively added up to $70.2 billion by the year 2016. At the beginning of the year, 2017 SoftBank Group pledged to purchase the company for $3.3 billion, and the deal was closed at the end of the year. Fortress Investment Group extended a helping hand to Theranos which is a medical startup company giving them a loan for $100 million. It was reported that the company was experiencing financial constraints and the loan from Fortress Investment Group would help them a great deal in 2018. Fortress Investment group has over 2,000 employees and as of the reports of 2016 had a net income of $180 million and revenues estimated to be $1.1 billion. The organization has a dedicated website fortress.com where clients can get in touch with representatives from the organization.