Fortress Investment Group has established itself as one of the premier investment management companies in the United States. The firm was founded in 1998 and specializes in asset-based investing, helping both businesses and private individuals with their investments. Today, 30 years later, Fortress has branched into several aspects of the investment world and has a Credit team as well as a Private Equity business, which houses five publicly traded permanent capital vehicles. Fortress also has four Credit Opportunity Funds and two Real Estate Opportunities Funds.Fortress Investment Group is headquartered in New York where co-founders Wesley R. Edens and Randal A. Nardone serve as Co-Chief Executive Officer and Principal respectively.
Edens previously served as partner and managing director for Lehman Brothers and then BlackRock Financial Management Inc., where he worked with Nardone before they founded Fortress. Nardone has a background in law and was a partner for a great law firm after receiving his J.D. from Boston University.Across the country, in San Francisco, Peter L. Briger, Jr. works as Principal and Co-Chief Executive Officer. He has 15 years of experience serving as a partner for Goldman, Sachs & Co. that he brought to the table when he joined Fortress in 2002. He also believes in community involvement and is a part of the boards for Tipping Point, a local non-profit that fights poverty, and a network of charter schools called Caliber Schools.The management committee for Fortress is made up of 17 individuals who oversee $43.6 billion worth of investments, according to data from 2017.
The company now has international reach and has 14 offices around the world, including in Sydney, London, Atlanta, Dallas and Los Angeles. In 2011, the company expanded to open offices in Shanghai and Singapore along with establishing the Fortress Asia Macro Fund. There are now multiple funds in Japan and in 2013, Fortress opened the Italian NPL Opportunities Fund. Among the several projects that Fortress Investment Group has been a part of include helping to fund the athletes village for the 2010 Winter Olympics in Vancouver, Canada. Once the games were over, the facilities went into Fortress’s holdings.In 2017, SoftBank Group purchased Fortress Investment Group for $3.3 billion. All Fortress shareholders had approved the transaction before it was made official and each shareholder was given $8.08 per share. Fortress’s common stock was taken off the NYSE and folded into SoftBank’s, but maintains its independence as a company.