Tag Archives: working in the financial industry

Fortress Investment Group: A Competitive Financial Institution

The Fortress Investment Group has been around since 1998, and they are known as the largest private equity firm in the United States. Recently, the company was purchased by the Softbank Group, a Japanese conglomerate, and paid $3.3 billion for the transaction. One of the agreements raised between the private equity firm and the Softbank Group was to retain the principals in their current positions, and it is the reason why Wes Edens, Randal Nardone, and Peter Briger are still serving as the company’s principals. The Softbank Group purchased the private equity firm after they saw the rising trend of the company, and they believed that the private equity firm has so much potential to develop further. They have been witnessing how the Fortress Investment Group was able to get through all of the financial challenges in the past, including the economic recession in 2008, and they are impressed about the performance of the company’s management. The principals of the company are doing a great job in keeping the Fortress Investment Group on top, and they are also showing the new owners of the company that their decision to pay billions for the private equity firm is worth it.

This year marks the 20th anniversary of the Fortress Investment Group, and the company will be looking back through the years to celebrate their foundation. The company was the idea of Wes Edens, Randal Nardone, and Rob Kauffman, three visionary entrepreneurs who have been working in the financial industry for some time. They had the idea to build their own financial management company after they realized that these type of businesses thrive easier. They started to manage assets that worth only a few million dollars, but after they have shown their clients that they could still manage more, it grew to a billion. Today, the company manages assets totaling $65 billion, and it keeps on growing.

The company has also debuted at the New York Stock Exchange, and they sold 8% of their shares to the public, equivalent to $600 million. The Fortress Investment Group continues to be one of the most competitive financial institutions in the country.

For details: therealdeal.com/issues_articles/the-closing-dean-dakolias/