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Fortress Investment Group Leading Investment Management in the USA

Fortress Investment Group, established in 1998, operates in investment management from its headquarters in New York City. The corporation has been growing steadily and achieving authority in its line of work. The Fortress was built up by a small group of investors, most of whom are now at the helm of the business.

The business started out as a private equity firm back in 1998. It was launched by Randal A. Nardone, Rob Kauffman, and Wesley R. Edens. Over the next several years, the Fortress expanded upon its portfolio of services, and by 2007 it has already started offering different kinds of assets management and some advisory services. The business works with hedge funds, debt securities, investments related to the business of real estate, and many other services. In 2007, the company also became the first equity firm of its size to be traded publicly in the U. S.

The Fortress Investment Group had a good start in business as its investments grew rapidly between 1999 and 2006. The private equity funds started netting 39.7 percent. In early 2007, the corporation launched on the New York Stock Exchange along with the businesses Lehman Brothers and Goldman Sachs. Years later in 2010 and 2011, the company was named “Credit-Focused Fund of the Year.” In 2012, it was titled “Discretionary Macro-Focused Hedge Fund of the Year” by the Institutional Investor. The company continued to amass titles and recognition from publication in 2014 as the “Hedge Fund Manager of the Year” and “Management Firm of the Year.”

These achievements caught the eye of the conglomerate from Japan SoftBank Group. In early 2017, the corporation started talking about acquiring the Fortress Investment Group for more than $3 billion. At the end of the year, the conglomerate completed the acquisition. Another discussed deal for the Fortress was its selling its OneMain stake to the Apollo Global Management. The deal was announced in early January this year, and it was later reported that Varde Partners would also be taking part in the contract.

The leadership of the investment management corporation is still intact. The founders and leaders are working under new contracts provided by the SoftBank Group. In five years after the acquisition of Fortress, SoftBank Group will be reworking the contracts and either keep or release the businessmen or appoint them to other positions within the Fortress.

Wesley R. Edens used to operate as Partner at the BlackRock Financial Management, Inc. At Fortress, Wes Edens is the Principal and co-chairman of the Board of Directors. He has been one of the driving forces of the growth of the business.

Randal A. Nardone is the newly-appointed Chief Executive Officer, and Peter L. Briger is serving as the Co-Chairman of the Board of Directors and Principal. The Fortress Investment Group leaders are also working on other projects and companies such as the UBS. Rob Kauffman, who is one of the founders of the Fortress, is no longer working in leadership. He is one of the managing directors of UBS along with Randal A. Nardone.

Hidden Fortress: Behind SoftBank’s $3.3B buy of the asset manager