Fortress Investment Group is a investment management firm that is located in New York. It has more than 900 people on its payroll and is run by its three principals Wes Edens, Randal Nardone, and Peter Briger. The company focuses on acquisitions and the management of mergers and also specializes in dealing with capital markets. Fortress also manages a portfolio of companies and does so by filling its ranks with individuals who understand many different business sectors.
Fortress Investment Group was created by Wes Edens, Randal Nardone, and Rob Kauffman. They had worked for a spread of different companies before founding Fortress including Goldman Sachs, Lehman Brothers, UBS, and BlackRock Financial Management. During the first half decade of Fortress being in business, the company managed to grow its $400 million fund to $3.9 billion. Since that time, Fortress has created billions of dollars of additional wealth and continues to grow.
Fortress Investment Group is still partially run by Wes Edens and Randal Nardone, but Rob Kauffman has moved on. Kauffman is now involved with many other investments and has founded additional companies of his own. In 2002, Michael Novogratz and Peter Briger joined the team at Fortress Investment Group. A few years later, Fortress made some very important purchases including Intrawest, RailAmerica, and Penn National Gaming. In 2007, the firm became the first hedge fund in the U.S. to launch an IPO.
Fortress Investment Group has continued to focus on spreading its portfolio out so that it includes international investments. The Fortress Japan Opportunity Fund is one of its new ventures, and the firm is also focusing on its Japan Income Fund. Within the last decade, Fortress has also opened up a new location in the United States in San Francisco and has also spread out to build headquarters in Singapore and Shanghai. In 2017, Fortress was purchased by SoftBank Group Corporation, which now runs it as an independent entity. The future is looking bright for Fortress as SoftBank will surely help to lift it up even higher in the investment world, and Nardone, Edens, and Briger are staying on to help it succeed.