Fortress Investment Group Co Founder Wes Edens Acquires Soccer Team

Wes Edens co founded Fortress Investment Group in 1998. Today, he is the current chairman of the firm and has occupied this position for the last several years. Since he co founded the firm nearly 20 years ago, Wes Edens has been able to make the firm one that has set a number of important trends in the field of finance. As recent as the year 2007, Fortress Investment Groups was listed on the New York Stock Exchange after making an initial public offering. It became the largest private equity firm to do this. As of now, the firm is among the most diversified investment management firms in the world. It currently manages assets totaling over $43 billion along with overseeing a clientele that exceeds 1,700. Today, the firm manages a wide range of assets which include private equity firm and hedge funds.

Fortress Investment Group is located in New York City and has office locations in many countries throughout the world as well. It has over 900 employees that work in managing and overseeing various asset classes. There three individuals who currently own and oversee the firm as part of  management committee. These individuals are Peter Briger, Randal Nardone and Wes Edens. Nardone and Edens are based in New York City while Briger works at the firm’s office in San Francisco.

Recently, Wes Edens looked to acquire a major professional soccer team based in England. He collaborated with Egyptian billionaire Nassef Sawaris to purchase a stake in the English team known as Aston Villa. The two of them will acquire a majority stake of ownership in the team at 55%. In terms of amount invested, Edens and Sawariss will put in $39 million American dollars to buy this stake. The team was bought in 2016 by a Chinese businessman named Tony Xia. While relinquishing a majority stake in the team, Xia will still serve as the co chairman as well as on the team’s board of directors.

After acquiring the English soccer team, Wes Edens will add this team as one of the major sports teams he owns. As of today, he is also the co owner of the Milwaukee Bucks of the National Basketball Association. Edens will join a list of billionaires who have purchased professional sports teams in Europe. The Glazer Family, the owners of the Boston Red Sox and also Russian billionaire Roman Abramovich are among the most recent foreigners to purchase major professional sports teams.

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How Fortress Investment Group Changed The World Of Investing

There are few Wall Street companies that can claim to change the world of investing from its very beginning. However, one alternative investment firm has been a trendsetter since day one. That company, Fortress Investment Group, has been blazing its own trail for three decades.

Founded in 1998, Fortress Investment Group is currently one of the largest private equity firms in the world. The company is noted for being the first private equity firm to go public. The IPO was underwritten by Goldman Sachs and Lehman Brothers with shares being made available to the public on February 9, 2007.

The company continued to grow despite the financial downturn in 2008. BY 2014, Fortress Investment Group was named “Management Firm of the Year” by HFMWeek and “Hedge Fund Manager of the Year” by Institutional Investor magazine. As the company continued grow and make acquisitions, Fortress caught the attention of even larger institutions who wanted to acquire the firm.

In 2017, SoftBank Group announced that it would acquire the firm for $3.3 billion dollars. The deal was closed on the last week of December of 2017. Today, Fortress remains a subsidiary of Soft Bank Group Corp.

As a private equity firm, Fortress Investment Group has been able to create a large and diverse portfolio of companies. Some of the companies, under the Fortress umbrella, include Aircastle LTD, Brookdale Senior Living, GAGFAH, RailAmerica Inc., CW Financial Services, Euro castle Investment Limited. Overall, Fortress currently has over 100 companies in their portfolio.

As of 2018, Fortress has 2,533 employees, most of whom are based at the firm’s headquarter office in their New York City. Key management personal at Fortress include Randal A. Nardone: Interim Chief Executive Officer, Wesley R. Edens: Co-Founder, Principal and Co-Chairman of the Board of Directors; and Peter L. Briger: Principal and Co-Chairman of the Board of Directors. The company currently manages about $70 billion dollars of assets through their various hedge funds, credit funds and private equity assets.

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