Tag Archive: Financial Institution

Fortress Investment Group-A leader in innovate investment.

Fortress Investment Group is one of the most dynamic investment vehicles in the country today. They have been able to diversify investments entering into virtually all leading sectors and industries. The leadership of Fortress Investment Group has been very instrumental to this growth with the two Co-Founders Randal A. Nardone and Wesley R. Edens heading the New York headquarters while Co-CEO and Principal Peter L. Briger is in charge of the San Francisco offices. The success of Fortress Investment Group has been credited to asset management as well as other investments made and is today in charge of approximately 40 billion dollars. Permanent capital vehicles have been a large part of the group’s success as they continue with the management of publicly traded vehicles.

Among these are five core ones that include the New Residential investment Corp, which is listed on the NYSE as NRZ and has been responsible for the management of the residential real estate. The New Senior investment group is another subsidiary they manage. Listed as SNR, they are mainly concerned with senior housing properties. The Newmedia investment group has a large portfolio of local media investments supported by investments in advertising as well. Fortress Transportation and infrastructure is the group’s main driver of investments in infrastructure. This has made a lot of investments in the private rail road’s division, especially through Brightline. Brightline runs numerous private passenger trains with its key operations based in Florida.

These are just some of the few investments that the group has under management. It recently invested in the skiing industry buying the world’s largest ski facility in Canada as part of its diversification program. In 2017 having observed the level of investments it was making Softbank became interested. The Tokyo based investment Bank had been actively looking for an investment vehicle that would help them penetrate the American market and have a number of other brands under it. The group is already a publicly traded company required approval from shareholders for any deal to be made and this request was put forward in 2017. The shareholders met in July and agreed to the offer letting Fortress Investment Group get acquired.

One of the largest private equity firms, Fortress Investment Group.

Fortress Investment Group is a global leading firm in investment management based in New York City. It was founded in the year 1998 by Wes Edens, Randal Nardone, and Robert Kauffman.The firm mainly deals in private equity, traditional asset management, and liquid markets. Randal Nardone is the interim Chief Executive Officer of the firm. He was appointed to the post after Daniel Mudd voluntarily stepped down in the year 2011.Mudd had been selected to the position in 2009. Wes Edens is the principal and co-chairman of Board of Directors. He shares the post of co-chairman with Peter Briger. The firm began in 1998 with an initial investment of $400 million.It has since grown to operate in real estate, hedge funds, and debt security. These operations are headed by Peter Briger and Michael Novogratz who have extensive experience in fund management.Fortress Investment Group was enlisted in the New York Stock Exchange in the year 2007.

It became the first large-scale private equity firm to be traded out publicly. The firm has won many awards including Management Firm of the Year from HFMWeek, Hedge Fund Manager of the Year from institutional Investor and Credit Focused Fund of the year. The firm controls over $70 billion of assets under management. This is distributed across private equity, traditional assets management, and liquid markets. It has a highly skilled and experienced staff of about 2600 employees. Since its inception, Fortress Investment Group has acquired a couple of other companies. In 2006, it acquired Canadian ski resort Intrawest. On November 2006, it went ahead to purchase RailAmerica corporation at $16.35 per share.

After buying the RailAmerica in 2006, Fortress Investment Group sold it in 2009 through the initial public offering. Penn National Gaming, Springleaf Financial, Eurocastle Investment Limited Alea Group Holdings, Global signal and Green Tree servicing are some of the other portfolio corporations under Fortress Management Group. The firm is specialized in asset-based management in its businesses and diverse asset types. Its expertise ranges from the pricing and financing of investments to the oversight and management of both financial assets, these include real assets and capital assets. It also has high expertise in corporate mergers and acquisitions. It was largely involved in the 2010 winter Olympics. The company was the major lender of Millennium Development Group. It funded the MDG in the building of the $875 million athlete village in False Creek, Vancouver in British Columbia.