Wes Edens is a New York City businessman in the financial and sports industries. After graduating from Oregon State University he traveled across the United State to begin his professional career. The first company he joined was Lehman Brothers. He was their managing director and one of the partners for six years. He left this job in order to fulfill these same roles at BlackRock Asset Investors where he also remained for six years.In 1998 he joined a couple of business partners to form Fortress Investment Group LLC. He is still a partner at this firm and manages its private equity business. Those in the business have said that Wes Edens likes to make contrarian bets when deciding what companies Fortress Investment Group should buy. He is also said to be a fan of using creative financing techniques and building up businesses.
A few of the companies he has invested in are Springleaf Financial Services and Nationstar. When he bought a majority stake in Springleaf Financial Services in 2010 this company was valued at $124 million. It is now valued at $3.5 billion which means his investment has a return of 35 times what was invested originally.It was in 2014 that Wes Edens decided to become a co-owner of the Milwaukee Bucks. He, along with Marc Lasry, bought this team from its prior owner for $550 million. During the process of buying this sports team of Wes Edens had promised to get a new stadium built. He was able to fulfill this promise as a new stadium, called Wisconsin Entertainment and Sports Center, broke ground on June 18, 2016.
It will cost $524 million and will be opening its doors before the 2018-2019 NBA season starts. In large part because of this arena the Milwaukee Bucks are now worth an estimated $1.075 billion.Another sport that Wes Edens has invested in eSports. In January 2017 he created a team named FlyQuest which competes in the North American League of Legends Championship Series. His team is pretty competitive although they have yet to win one of the seasons they have competed in. They did, however, come in 4th place during the 2017 Spring season, coming in just behind Team SoloMid, Cloud9, and Phoenix1.