There is no doubt that the Fortress investment group is one of the biggest investment firms. From owning Brightline to partnering with iPass, the firm is dedicated to revolutionizing the business sector. Since its foundation in 1998, Fortress group has taken the industry to the next level. Year after year, it reaches new heights in operation management, capital markets, asset-based investments and in mergers and acquisitions.
Fortress Investment Group’s principals, Randal Nardone, Wes Edens, and Peter Briger have kept the torch burning for the past two decades. Their experience from Goldman Sachs, UBS, Lehman Brothers, and BlackRock Financial management provided platforms for these principals. Rob Kauffman, who retired to follow his interests in car racing, Randal and Edens are the initial principals and founders of the firm.
The trio who shared the same vision invested in their time to build a private equity firm whose assets grew drastically to $3.9 over a period of five years. In 1999, the firm launched Fortress Investment Fund I, which acted as the steppingstone to their success. Gradually, they invested in real estate, hedge funds, and debt securities. In 2006, Fortress Group came up with Fortress Investment Fund II, III, and IV, Fortress Brookdale Investment Fund, Fortress Partners Fund, Drawbridge Special Opportunities Fund, and Long Dated Value Funds.
Fortress Investment Group’s success is also evident in the acquisition of the Canadian Company Intrawest, Penn National Gaming, Rail America and Florida East Coast Industries between the year 2006 and 2007. Still, in 2007, the firm became an IPO, which shook the business world significantly. Soon after, firms like Oaktree Capital Group, Blackstone Group, and Carlyle Group followed suit and went public.
The shift from private to a public firm turned out to be Fortress Investment group’s most significant move. It increased the investment vehicles, and all its funds became online. It even accommodated international funds such as the Fortress Asia Macro Fund. Due to its growth, the firm opened headquarters in Asia, Singapore, and Shanghai, and added on in San Francisco in 2011.
Today, Fortress Investment is under the SoftBank Group Corporation after they bought the firm at $3.3 billion in 2017. Fortress investment group, however, continues its operations with Peter Briger, Edens and Nardone as the principals. The acquisition changed nothing as the firm is an independent entity. Softbank only seeks to support the firm in the information revolution.
All eyes will be on the new partnership as it promises to improve their alternative asset investment strategies. Fortress Organization became the Management Firm of the Year in 2014. The firm has so much to offer, and hopefully, they will continue with this trend in the years to come.