Fortress Investment group has figuratively established itself like a fortress in the investment market. Fortress Investment Group deals in:
- Liquid markets
- Managing traditional assets
- Private equity
They serve over 1,500 private clients and institutional investors worldwide. It has more than $70 billion in assets that are under their belt of management, which are counted in real estate.Fortress Investment Group has established offices in major cities around the world including New York City, Los Angeles, Philadelphia, Hong Kong, Italy, and Singapore. It was Founded on Jan 1, 1998, by Wesley Edens, Rob Kauffman, and Randal Nardone as a private equity firm.Fortress Investment Group went Public in 2007, making history as the first private equity firm in the United States to become a publicly traded company. It has had its share of smooth and rough rides with losses like most other equity firms.
This was shortly after its launch during the economic downturn in 2008. During this period, the institution was forced to collect from the Olympic athlete’s village despite plans to give a hand in funding the winter 2010 Olympics.The crisis had pushed the company to the brink of bankruptcy which forced the City of Vancouver to borrow $450 million for the completion of the village. the corporation had initially agreed to loan $875 million to build the village. The village after conclusion, however, went into the corporation’s holdings. On its driver’s seat, are executives that have and are continued to propel it o dominance in its field.
The Management has gained various experiences from their past careers prior to the formation and joining the Institution. They include:
- 1.Wesley R Edens is a co-chairman of the board, a principal and co-founder
- 2.Randal Alan Nardone who is the CEO, a Principal and co-founder.
- 3.Peter Lionel Briger Jr. is a co-chairman and a principal.
- 4.Daniel Neal Bass who serves as the CFO and treasurer.
- 5.David Nichols Brooks is a VP, the secretary and General Counsel.
- 6.Gordon E Runte is the Managing Director and head of Investor relations.
This team and other board members have been involved in major advancements for the company. For instance, the $3.3 billion sales to Japanese owned bank, Soft Bank. Soft Bank Group took over and owned all of Fortress’ outstanding shares. Each Fortress Class A share was to receive $ 8.08. Upon the sale, however, it was leadership left in place. Soft Bank was dedicated to preserving the culture, leadership, business model, personnel, and brand that has built the company’s successes to its current position. Fortress values communication, teamwork adaptability, reliability, integrity, initiatives and working standards. Its employees credit the collaboration, organizational structure, and thoughtfulness in the company which has helped them to gain credible experience and learn.