Mastering Asset Management With Fortress Investment Group

Fortress Investment Group has been in the asset management business since 1998 and is nearing its 20th year in operation. Over the years the group has come full circle and has been able to achieve a lot of milestones. When the three investors Wesley R. Edens, Randal Nardone and Rob Kauffman joined hands, they had four hundred million in assets. This would grow over the years ton what it is today. The partners Wesley R. Edens, who was a former partner at BlackRock Financial Management, Inc. came together with Rob Kauffman and Randal A. Nardone who were both managing directors of UBS. This was a group of partners who clearly understood what asset management involved and were keen on using their expertise on growing their startup.

They would quickly expand Fortress Investment Group into real estate-related investments, hedge funds, and debt securities. These were key growth areas at the time and showed a lot of promise and potential. This belief in their strategy would pay off, and they were able to grow Fortress Investment Group into a 3 billion operation within the first five years. At this time the partners established the need to maintain this momentum and were keen on bringing on new talent. This was fixed by bringing on board Michael Novogratz and Pete Briger, who were both former partners at Goldman Sachs. The two were well experienced in asset management as well and debt financing and understood the vision set for Fortress Investment Group. They would help propel the group’s ambitions and soon had made the board of directors.

This was a move that would translate to Fortress getting listed on the stock exchange. This came into place in 2007. The company listed its IPO under the stewardship of Goldman Sachs and at the time had at least thirty billion in assets under management. This was followed by several recognitions and awards in the coming years as they continued to make major acquisitions and mergers. The objective was to grow and diversify their portfolio, which would ensure that at any one time they were well covered from any shocks affecting any particular industry. This was a vision led by Peter Briger based in San Francisco and Randal Nardone based in New York. The team has been very instrumental in nurturing their portfolios. This consistency would not go unnoticed as Softbank started making inquiries. They were keen on acquiring them and in 2017 made an offer of 3.3 billion dollars.

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