It can be referred to as the pacesetter when it comes to alternative asset management across the globe. Fortress Investment Group has been in existence for only 20 years since its inception in 1998, it has been one of the most notable firms worldwide with very tangible achievements.
Fortress Investment Group’s light shone and beamed brightly in 207 when it conducted its Initial Public Offering (IPO) and went public on the NYSE. The firm now manages over $70 billion of assets for more than 1,750 investors. It holds assets like private equities, hedge funds, and permanent capital vehicles. The firm has its headquarters in New York with more than 1,100 employees.
The Group is currently focusing their energy towards Private Equity, Permanent Capital Vehicles, and Credit divisions. The Credit division which was launched in 2002 is led by Peter Briger, who is one of the core principals leading the firm, and Dean Dakolias who is the Co-Chief Investment Officer. This division comprises of Fortress Credit Opportunities Funds, Fortress Real Estate Opportunities Funds, Fortress Japan Opportunity Funds and Drawbridge Long Dated Value Funds among others.
When it comes to its Private Equity division, the Fortress Investment Group is focused on matters to do with cash flow generation in North America, Western Europe, and the Caribbean. This division is headed by Wes Edens and Randal Nardone who are part of the Principals at the Group. The operations under this division involve managing assets in energy, transportation, healthcare, financial services, and infrastructure.
The last division of Permanent Capital Vehicles invests in transportation, real estate especially residential, senior housing, infrastructure, and even local media assets. As a result of its unassailable success, various organizations became interested in owning Fortress Investment Group and in 2017, Japanese Softbank Group Corporation purchased it for $3.3 billion. Nevertheless, Fortress continues to operate independently with its own principals, Wes, Nardone, and Briger continuing with their job.
Softbank is expected to bring some revolution especially in dispensing its information in Fortress Investment Group so as to sustain the developments and efforts of these principals and the entire Fortress family. It is unbelievable how Fortress grew from having 28 people and $400 million of Assets under management to over $1,100 and more than $70 billion within only two decades.
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