Fortress Investment Group is the top firm internationally that deals with highly assorted investments all over the world. Figures from the last financial report show that Fortress has assets worth more than thirty-six billion dollars under their care. Fortress Group which was established in the year 1998, oversees and manages property both financial and physical property, for more than sixteen hundred clients. These are investments spread across a variety of sectors such as real state, independent equity, credit, and capital. Fortress has clients spread out in many places of the world among them Hong Kong, Singapore, Los Angeles, Philadelphia, Italy and New York City. Fortress is the mother company to many subsidiaries among them Intrawest, doBank, Paratus AMC GmbH, Drawbridge Special Opportunities Advisors LLC, Fortress Japan Investment Holdings LL, Fortress Canada Investment Corp and Fortress Capital Formation LLC.
In the year 1998, Fortress Investment Group LLC was founded by three partners as a private investment firm. Wesley R. Edens, who formerly worked at BlackRock Financial Management, Inc., was one of the three pioneer founders. Randal A. Nardone, who at the time was a manager at UBS and his counterpart Rob Kauffman who also worked at UBS were the other two founders. As Fortress business field grew by a large dimension, the company would deem it necessary to include Peter Briger and Michael Novogratz, who were elite partners at Goldman Sachs. The two were a welcome inclusion because at the time Fortress had begun investing in hedge funds, debt securities, and real estate and the duo carried along a large sphere of experience and market knowledge.Fortress success would see it listed on the New York Stock Exchange in early 2007 where Lehman Brothers and Goldman Sachs served as their underwriters. The resulting Initial Public Offer would see three co-founders alongside Briger and Novogratz become instant Billionaires. The company would grow from big to bigger and in 2014 the Institutional Investor applauded Fortress to be the best manager of Hedge Funds in that year.
The end of the year 2017 would see Softbank Group; a Japanese technological firm announced that it has finalized the acquisition of Fortress Investment Group. The acquisition meant that Softbank now holds all Fortress Shares after a three billion US dollar deal with Fortress. Fortress now operates under the umbrella of Softbank as an independent entity. However, Fortress maintained its top leadership with Peter Briger, Wesley Edens, and Randal A. Nardone still at the helms of power.
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The New York based company has identified a number of private equity investment packages among them Eurocastle Investment Limited, Aircastle Limited and Capstead Mortgage Corporation. A remarkable Fortress Investment was an $875 million loan to Millennium Development Group for the construction of an Olympic village during the 2010 winter Olympics held in Vancouver. Fortress would later acquire the property. The company which has been acclaimed as the best investment manager lists asset management, mergers and acquisitions, capital markets and having canal knowledge of the market as their areas of expertise.