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The Skinny On Fortress Investment Group

New York City’s famed Wall Street is unarguably the global capital of financial activity; the Nasdaq Stock Market, the New York Stock Exchange, and countless big-time asset management firms are located in or around the Big Apple’s Wall Street. Fortress Investment Group is one of the many investment management firms located in New York and is known throughout the area as one of the finest in the industry.

Fortress Investment Group is currently managed by Randal Nardone, Wes Edens, and Peter Briger, though the business was founded by Nardone, Edens, and Rob Kauffman in 1998. The organization is proud to say that it manages upwards of $40 billion’s worth of its 1,700-odd clients’ assets.

Let’s take a look at how Fortress Investment Group’s dreams of success came to fruition, what business practices Fortress engages in as means of generating revenue, and take a peek into the working histories of its founders and current principals.

A brief history of Fortress Investment Group

In 1999, less than one year after the firm was founded, it launched Fortress Investment Fund I, the first big-time investment portfolio that Fortress put out on the market. The next year, Fortress came out with the Fortress Brookdale Investment Fund. In 2003, Fortress formed Eurocastle Investment Limited; just one year later, Eurocastle came forward with an initial public offering. Very few investment groups are able to push its creations to the level of coming through with IPOs, though the financial services experts at Fortress Investment Group managed this remarkable feat no more than five years into its life.

As of 2007, Fortress had founded Fortress Investment Fund V – since then, the company has come forward itself with an initial public offering and is currently traded on New York Stock Exchange.

Fortress Investment Group primarily generates revenue through managing its many clients’ assets, though it also offers advisory, consulting, and legal services related to mergers and acquisitions.

The founders

Wes Edens – owner of the NBA’s Milwaukee Bucks – Randal Nardone, and Rob Kauffman – a famous racecar driver – founded Fortress. In 2012, Kauffman retired; two-time Ivy League graduate and 15-year veteran of Goldman, Sachs & Co. Peter Briger filled in his role the same year.

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Wes Eden contribution to the Fortress Investment Group

Wesley Robert Eden who is well known as Wes is an American businessman and a co-founder of fortress investment GroupLLC.Throughout his entire life, he has been the head of Private Equity Chief Investment Officer Principal. Wes also had a chance to serve as the Co-chief Executive Officer at the firm since the end of 2017. He has taken full responsibility for private equity publicly traded alternative investment businesses.

Eden schooled and with his hard work and determination, he got his Bachelor’s degree in finance and Business Administration from the University of Oregon in early 1984. His venture into business was influenced by the fact that he had an interest in business and so he opted to start his idea in 1987 at Lehman Brothers where he took the initiative of being the managing director till 1993 and later he joined Wes Edens BlackRock’s private equity division. At the BlackRock Asset Investors, he remained and worked as a partner and managing director till 1997 when he quitted.

Wes Eden was among the five principal partners their names were Peter Briger, Robert Kauffman, Randal Nardone and Michael Edward who were the founders of Fortress Investment in 1998. The investment style was one which was described in 2007 as “The wall street journal “which was based on financing and building the business to increase from investments. The fortress decided to sell to the public part of its share for$600 million to enhance development.

Eden who became the chairman on Natiostar Mortgage which was known back then as Centex Home Equity Company was at a point needed by the Fortress and they bought it for $575million.His connections helped the Nationstar Mortgages to propose a deal that would run the new arena for entertainment, and this drove them to ask for more public funds to promote the Nationstar. Eden later became the Co-chairman of the board of directors at Fortress by 2009, and he came up to help to grow as they had seen its stock fall rapidly to below one dollar after the crisis. He became a leader who served the people of Fortress for a year. The team had a League of Legends that competed in the North American League of Legends Championship Series.

Wes Edens info: