Fortress Investment Group was founded in 1998 as a private equity firm and has been a trendsetter in the industry from the moment of its inception. Never was this fact more evident than in 2007 when the company when its initial public offering made it the first publicly traded large-scale firm concentrating on private equity management listed on the New York Stock Exchange.
Fortress today is a global investment firm that operates globally and is in control of over $43 billion while providing services for 1,750 clients. Fortress has made its headquarters in the city of New York and employs more than 900 people.
Fortress achieved another historic first in 2017, ten year after becoming the first publicly traded private equity firm on NYSE. This time, the company became the first alternative investment firm to be purchased by another company.
The purchase of Fortress by Softbank Group Corporation was executed at a price tag of $3.3 billion and allowed the leadership of Fortress to remain intact. Softbank which is a Japanese business organization that is headquartered in Tokyo, Japan also allowed Fortress to maintain its headquarters in New York City.
Softbank is looking to leverage its acquisition of Fortress to put itself in a position to be a leader in the still-developing industry of information technology. Softbank has added Fortress to a portfolio that already includes advanced telecommunication, the Internet of things, clean energy technology, and other tech endeavors.
Fortress Investment Group boasts of an impressive group of principals responsible for the operation of the company. These three men are Wes Edens and Randal Nardone, who both work out of New York, and Peter Briger, based in the city of San Francisco.
Peter Briger worked for 15 years with Goldman, Sachs, including time spent as a partner with the firm, before joining the ranks of Fortress in 2002. Briger is responsible for the operation of the credit decision at Fortress and is a member of the Forbes 400, a list that recognizes the efforts of global business professionals.
Peter Briger received his bachelor’s degree from Princeton University before going on to the Wharton School of Business at Pennsylvania University to earn an MBA.
The wealth of knowledge and expertise Briger gained during his tenure at Goldman, Sachs has served him well while working with Fortress Investment Group.
Peter Briger has been listed in the past on the Forbes Billionaire List.
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