A Brief History of Wes Edens’ Fortress Investment Group
Fortress Investment Group is a unique asset management firm headquartered in the United States. Despite its humble start as a small firm, the group has persistently grown to a giant organization managing a global portfolio of key companies in the telecommunication, clean energy, hospitality artificial intelligence, and financial industries.
When was it founded?
Wes Edens’ Fortress Investment Group was established in 1998. The group’s co-founders were able financial experts in chief investment and financial service providers like BlackRock Financial Management, Goldman Sachs, and UBS.
During that period, the investment firm focused on New York and Toronto’s real estate markets. Within the first five years, its assets grew rapidly from $400 million to over $3.9 billion. Later on, it diversified its investment portfolio to hedge funds and debt securities.
The present-day Fortress Investment Group
Presently, Fortress Investment Group is a giant investment company that serves its clients in Asia, United States, Europe, and other countries around the world. It collaborates with an experienced team of experts who specialize in:
- Capital markets
- Running mergers and acquisitions
- Asset-based capitalizing
- Management of physical and financial assets
- Investing in highly complex investment vehicles
Fortress Investment Group’s Team of Executives
Fortress Investment Group runs under the management of Wes Edens, the co-founder, Peter Briger, the co-chairman, Randal Nardone, the co-founder, Daniel Neal, the chief financial officer, and Marc Furstein, the managing director.
Fortress Investment Group’s Accomplishments
The company has diversified into other fast-growing investment vehicles that have expanded its asset worth. In 2007, the company purchased one of the largest ski resort operator serving North America and Canada. In the same year, IPO honored it as the first private equity to be traded of NYSE.
In 2010, Wes Edens’ Fortress Investment Group acquired American General Financial Services, Logan Circle partners, and Mount Kellet. In 2015, the company ventured into Cryptocurrency, a new but rapidly growing investment vehicle.
Despite its humble beginning, FIG has grown to one of United States’ companies managing assets worth billions of dollars. In 2017, Softbank bought the investment group. However, it remained under the management of able executives like Wes Edens, Nardone, and Bridger.