The company was founded by Randal Nardone, Wes Edens, and Rob Kauffman. All three founders contributed their extensive financial background from their history at Lehman Brothers, Goldman Sachs, BlackRock Financial Management, and UBS. They set out to make a new form of investment firm. The firm took grew private equity and invested that equity into sharp money making vehicles They increased their management assets pretty fast from $400 million to about $3.9 billion over five years. Assets rose to $32.6 billion by 2007.
One of the three founders of Fortress Investment Group, Wes Edens, has also been a sports owner since 2014. He and Marc Lasry bought the NBA’s Milwaukee Bucks for a price of $550 million. He is also a backer of eSports. Wes Eden’s role at Fortress is mainly regarding the Private Equity department. This was initial driving purpose of the company when it first opened. The was Wes Edens invest is against the market. He looks for challenges in assets that are distressed within the market. Before he began Fortress with his partners he worked as a managing director at Lehman Brothers as well as BlackRock. He studied finance and business administration at Oregon State University.
About Fortress Investment Group
From the time the company was started in 1998, Fortress Investment Group has been setting trends. The company started as a private equity firm and then went public in 2007 as the first huge private equity firm to have its offering on the New York Stock Exchange.
Currently Fortress directs more than $43 billion assets for more than 1,750 investors, some are in private equity, whiles others are permanent capital and hedge funds. The company’s strategy is one of high risk for long term investors. The company is based in New York and employs more than 900 people.
Fortress Investment Group handles asset-based investing, operations management, mergers and acquisitions, and capital markets. The company’s investments are made up of a wide variety of items that contribute long-term cash flow. The assets include real estate, capital, and other financial vehicles. The company is made up of experts regarding the pricing, owning, financing and managing physical and financial assets.