Peter L. Briger is present Co-Chief Executive Officer of Fortress and joined the organization in 2002, following a 15-year-long career with powerhouse Goldman Sachs & Co. Initially, upon joining the Fortress team, Briger directed the real estate and debt securities business division because during that time the business wanted to diversify its core activities in private equity. The genius that Briger brought with him to the company centered on his insight into market assets that no one else wanted. His long-time expertise in Goldman Sachs’ Special Situations group—which he co-founded, had uniquely prepared him for his forthcoming role with Fortress. The Special Situations Group, which was notoriously secretive and tight-lipped about it’s extremely profitable transactions; has often been reported to be the principal source of Goldman Sach’s revenue both during and after Brigers’ heading of the division.
While still with the Special Situations group and at it’s peak, Peter Briger and his colleagues heavily bought and sold in global high-risk assets–like Thailand auto loans, distressed mortgages in Japan, an alcoholic beverage company in South Korea, Industrial aircraft, and British plants. The strategy was always to acquire assets that had gone into default with the main sources of the original loan. This could have been due to various factors, such as: fiscal instability, political pressure or any other reason that Goldman managed to capitalize on. Briger’s group would hold onto those assets until the markets stabilized and they were then sold for a hefty profit. Buy low, sell high. It appears so simple, but the skillful execution and expertise necessary to succeed in these highly volatile deals require world-class investment skills. Briger and his teams oversaw massive profits time and again.
Since leaving Goldman, the success of Peter Briger has not ebbed one bit. In the first quarter of 2015 alone, the Briger team successfully raised $ 4.7 billion for a new fund called “Fortress Credit Opportunities Fund IV”. That represented 87% of the total new funds raised by Fortress in that quarter.In recent years, Peter Briger found gold after the financial meltdown and wryly once referred to his business as the “garbage collection of financial services” in an interview.Even though the global financial landscape has more or less stabilized, Peter Briger still sees an excellent opportunity to take advantage of ailing assets, especially in the financial sector. When he’s not managing massive business maneuvers in his position as Co-Chairman with Fortress, Briger’s personal time is dedicated to more socially-conscious considerations—like serving on the board of Tipping Point, a non-profit organization serving low-income families in the San Francisco Bay Area; as well, as Caliber Schools, a network of charter schools committed to preparing students for success in competitive four-year colleges and beyond.