For a business to grow into a conglomerate, it requires an exceptional management team and looking at the success of Fortress Investment Group; there is no doubt that its leaders boast nothing but perfection in steering the firm towards success. Exactly two decades ago, the firm was established by its principals Wes Edens, Randal Nardone, Rob Kauffman (currently retired) and its other principal, Peter Briger joined in 2002.
Since then, the three have been tirelessly setting the pace for other firms within the same scope. For instance, under their leadership, Fortress Investment group became the first firm dealing in private equity to go public at the New York Stocks exchange. It is also the leading firm in asset management as it currently runs assets worth more than $43 billion for more than its 1750 clients in different fields such as hedge funds.
What makes it successful?
Ever since its commencement, Fortress Investment group leaders have been utilizing the robust risk-adjusted returns strategy which most business wouldn’t dare use as it often results in massive losses if not well calculated. Nevertheless, a good business takes risks and the benefits that the firm gets from this strategy, drive that point home better.
The firm specializes in areas such as investing in real estate, corporate mergers and acquisitions and several others. It boasts extensive expertise in these areas, a factor that has seen it gain significant profits. For instance, when it comes to mergers and acquisitions, the firm fosters good relationships with a diverse array of corporate stakeholders thus gaining leverage and increasing its chances of expansion. As for asset-based investing, it prides itself on a team of highly trained experts who tackle aspects such as pricing, financing, managing and even owning physical and financial assets to ensure a constant flow of profits.
A brief history of Fortress Investment Group
As mentioned earlier, Fortress Investment Group was established in 1998 by its founding fathers, Wes Edens, Randal Nardone and Rob Kauffman. Before coming together to create the firm, all the three individuals had been working in different companies in the finance arena. That was valuable for them as they all brought rich experience and knowledge to the table and when Peter Briger joined in, he came in with 15 years’ experience in credit investments adding to its expertise even more and enabling the firm to be the leader it is today. In respect to that, the company was set to grow, and within its first half decade, it had expanded its asset base from $400 million to $3.9, and by the time it was going public two years later it had assets worth over $32.6 billion. Ever since then the company has been relentless in marking milestones and continues to expand with each wake.