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.

Read More : www.bizjournals.com/milwaukee/news/2018/08/23/bucks-co-owner-wes-edens-more-than-a-sportsfan.html

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