When Fortress Investment Group was formed in 1998, the group quickly became known as a trendsetter. Founded as a private equity firm, the initial public offering in 2007 took the group to a new level of recognition as they were listed on the New York Stock Exchange (NYSE). As it stands today, the firm is now a diverse group focused on global funds and investors around the world. Wes Edens was beyond thrilled that this group was the first large-scale public equity firm to go public. It didn’t take long before the firm was managing more than $43 billion in assets.
What is the secret to success for Fortress Investment Group? Wes Edens most likely attributes it to their diverse portfolio. This includes hedge funds, private equity funds, and permanent capital vehicles. If you look closely at their profile, it is mostly strong risk associated with long-term investors. It’s no surprise that those who have experience are willing to take more risk.
Fortress Investment Group has been experiencing steady growth since its inception, but what you may not realize is that it’s now so large, it employs more than 900 people. Two of the founders, Randal Nardone and Wes Edens are based out of New York. Peter Briger, their third partner is based out of San Fransisco. It’s no surprise that Briger has come out of such a high profile city, where investments are as much a part of every day life as they are in New York City.
Every investment banking group has specific areas that they are known for focusing on. Wes Edens and his partners chose to focus on asset based investing, but they are also committed to operations management, capital markets, and corporate mergers and acquisitions. Private equity and credit funds are now driving most of the business, and it’s certain that they will continue working in these areas as they grow. Billionaire Sawiris, Edens to Buy Aston Villa Soccer Club