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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