Fortress Investment Group was formed in 1998 as a private equity company. It was the first large private equity entity to go public on the New York Stock Exchange (NYSE. Fortress is currently a diversified investment management company in the world. It has more than 900 employees and headquarters in New York. Randal Nardone, Wes Edens, and Peter Briger are the principals of the organization. Fortress specializes in asset-based investing, corporate mergers and acquisitions, operations management, and capital markets. The broad asset diversity including capital, real estate, and financial vehicles provide finances for its operations.
Fortress Investment Group implements its robust tools to extract value from intricate investments it creates. It has perfected its expertise in managing acquisitions and mergers for the years it has been in existence. Its personnel has relationships with management professionals, corporate board members, and corporate stakeholders.
Randal Nardone, Wes Eden, current principals, and Rob Kauffman, retired in 2012, founded the Fortress Investment Group. The founders have deep financial experience from posts at BlackRock Financial Management, Lehman Brothers, UBS, and Goldman Sachs. They aimed at developing a different type of investment venture and an alternative asset policy to raise private equity. In 1999, the firm launched its first portfolio, the Fortress Investment Fund I. They invested in properties in Toronto and New York markets. It expanded into hedge funds and debt securities. The company has been a success from the start with its private equity finances growing at a rate of around 40 percent.
Fortress added two executives, Michael Novogratz and Peter Briger, in their leadership in 2002. In 2006 and 2007 the entity made multiple acquisitions such as RailAmerica, Penn National Gaming, and Florida East Coast Industries. The new principals and purchases led to organization growth. The organization has gone international with portfolios in Italy and Japan.
Fortress Investment Group has three departments that include private investment management,private capital vehicles(PCV), and credit division.At the moment,Fortress Investment Group’s operations are divided into different categories that include credit, private equity, and permanent capital vehicles divisions. Peter Briger leads the credit department.
Peter Briger is a co-chair and principal of the Fortress board of directors. He is a member of the company management committee since 2002. Briger joined the investment firm in March 2002 after leaving Goldman, Sachs & Co. He is a fellow at the Tipping Point board, non-profit movement in San Francisco that supports low-income families. Mr. Briger received his MBA from the Wharton School of Business after successfully attaining a degree from Princeton University.