The Role That Fortress Investment Group Plays in the Financial Industry

Based in New York City, Fortress Investment Group is a firm specialized in investment management, founded in 1998 by Randal Nardone, Rob Kauffman, and Wesley R. Edens. Currently the firm works on behalf of more than 1,750 investors and private clients throughout the world, managing more than $70 billion in assets. In 2007 they went public, becoming the first large private equity in the U.S. to be publicly traded and listed on the New York Stock Exchange.

Throughout its 20 years of activity, Fortress Investment Group had an impressive team of professional at the helm. Besides the 3 founders, other notable key players are Adam Levinson the current CEO, Matthias Moser the Managing Director, and Peter Briger, who acts as a Principal as well as a Co-Chairman of the Board of Directors. All members have great reputations in the financial industry and are responsible for the firm’s dramatic success that continues to this day. The firm currently has holdings in companies such as Xapo, Lyft and Jawbone, as well as owning hotels previously owned by Lehman Brothers, which were bought following the stock market crash that took place in 2008.

In 2017, Softbank acquired Fortress Investment Group, the deal being finalized during the last week of December. The purchase came as a surprise, due to the fact that SoftBank is known for investing in companies that are technology-based. SoftBank paid $3.3 billion in order to make the acquisition, currently owning all Fortress shares. Speculations are that the strategic move done by SoftBank and buying an alternative-asset manager instead of a tech startup points to SoftBank’s plans to become the largest investment firms in the world.

As a result of the SoftBank purchase, the 20 years old Fortress Investment Group stopped operating as a publicly traded company and once again became a private firm, one of the founders, Wes Edens noting that he is excited about the move. Prior to being bought, Fortress already had a track record in Japan.

Due to the dedication and hard work of the people behind Fortress Investment Group, the firm earned the title “Hedge Fund Manager of the Year” in 2014, an accolade given by the Institutional Investor publication. They also won “Management Firm of the Year”, an award given by HFMWeek. Additionally, they have earned various recognitions in the early 2010s from Institutional Investor, including “Credit-Focused Fund of the Year” in 2010 as well as 2011.

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