Fortress Investment Group is the World’s leading firm involved in the management of alternative assets. It specializes in credit funds, private equity, liquid funds and traditional asset management.It was established in 1998 by Robert Kauffman, Randal Nardone, and the Bucks team owner Wesley Edens. The firm is headquartered in New York City. With an initial investment of $400 million, the firm was started on the first of January 1998.It has since grown to operate in real estate, hedge funds, illiquid assets and debt security under the leadership of Peter Briger and Michael Novogratz. Peter Briger joined the firm in 2002 from Goldman Sachs and he is highly experienced in distressed illiquid investments.
Fortress Investment Group became the first large-scale private equity firm to be traded out publicly after being listed in the New York Stock Exchange. The firm has won a couple of awards such as Hedge Fund Manager of the Year by Institutional Investor and Credit Focused Fund of the year. The firm is in charge of over $70 billion of assets under management in private equity, liquid markets, real estate and traditional assets. It has a skilled and experienced workforce of over 2500 employees serving over 1750 clients globally.Daniel Mudd was appointed the Chief Executive Officer of the firm in 2009. He held the position for two years before voluntarily stepping down in 2011 to pursue other interests.Later that year, Randal Nardone was appointed the interim Chief Executive Officer. Wes Edens is the principal and co-chairman of the board of directors. Peter Briger holds the same position.
Fortress Investment Group focuses on asset-based management in its businesses. It specializes in pricing, financing, management, and oversight of both financial assets, these include real assets and capital assets.In its two decades of operation, it has gained high expertise and experience in corporate mergers and acquisitions. In February 2014, Wesley Edens announced the sale of Fortress Investment Group to the Japanese side, SoftBank Group Corporation.The firm was sold at $3.3 billion in cash. However, the headquarters of the firm remained in New York City. Edens, Briger, and Nardone also retained their managerial roles. The firm took part in the 2010 winter Olympics. It was the major lender of Millennium Development Group which was tasked to construct the $875 million athlete village in False Creek, Vancouver in British Columbia. Today, it remains to be a successful leading asset management company.