Diversification of investment strategies is one of the aspects that have seen Fortress Investment Group rise to glory, and become one of the leading investment managers globally. The company was started as a private equity firm in 1998. Its founders were Rob Kauffman, Wes Edens, and Randal Nardone. The three portfolio management gurus had come from other reputable financial organizations like Goldman Sachs, Lehman Brothers, UBS and BlackRock Financial Management, where they had gained vast experience and expertise assets management.During the formation, Fortress Investment Group managed a very tiny portfolio of about $400 million in assets under management (AUM). This later grew at a very alarming rate to reach $3.9 billion within its first five operational years. By the year 2007, Fortress’ had managed assets more than $32.6 billion.
In 2002, Peter Briger joined Fortress Investment Group as a co-principal. This brought a very robust impact on the company’s management, an aspect that saw the company’s size skyrocket. In 2007, Fortress declared its first Initial Public Offer. This historical event made the firm to gain very positive publicity, a thing that every other company in the industry admired. As a result, other companies of its type and magnitude followed suit and started going public. Under the effective management of its principals, Fortress Investment Group has continued to shine in the international investment industry. This has seen the firm receiving numerous performance-based awards and accolades in the industry.
For example, in 2010 and 2011, the Institution Investor magazine named Fortress the “Credit-Focused Fund of the Year.” Later in 2012, Fortress was named the “Discretionary Macro-Focused Hedge Fund of the Year” by the same Institutional magazine. In 2014, HFMWeek, the leading publication in the alternative asset industry and the Institutional magazine named Fortress Group the “Management Firm of the Year” and the “Hedge Fund Manager of the Year,” respectively. In 2017, SoftBank Group Corporation, a Japanese firm headquartered in Tokyo acquired Fortress Investment Group for a total of $3.3 billion in cash. This move saw the ownership of all Fortress outstanding shares transferred to SoftBank and its fully-owned subsidiaries. The acquisition, however, did not affect the leadership of Fortress Group. Despite being under SoftBank, the company continues to run its operations independently under the leadership of its able principals; Pete Briger, Wes Edens, and Randy.
Fortress currently manages assets in excess of $63 billion for its clients who comprise both institutional and private investors. The firm also has employed more than 1000 personnel worldwide to enable effective running of its operations.