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Fortress Investment Group And The American Dream

Fortress Investment Group is a New York City based investment firm founded in 1998. Their main objective is to use their knowledge of the financial industry to guide their investors on making sound ventures in the asset-driven marketplace. Real estate speculation along with capital and monetary investment strategy is at the core of Fortress’s mission statement. They boast a strong portfolio with over forty billion dollars in asset management under their supervision, ending fourth quarter in 2017. Their operations portfolio has included the United States, Caribbean territories, and Western Europe.

In 2009, Fortress Investment Group was contracted by the Millennium Development Group, which is a Vancouver based real estate construction company tasked with building the Olympic Village for the 2010 games in Vancouver, British Columbia, Canada. The eight-hundred and seventy-five million dollar facility was completed in November 2009 and provided all the sporting venues for the athletes to compete. With Fortress being the primary investor in its construction, the company took ownership of the facility after the games ended in 2010.

Most recently at the end of December 2017, Softbank Group Corporation, which is a Japanese telecommunications and internet corporation purchased Fortress Investment Group for over three billion U.S. dollars. The acquisition included Softbank acquiring all of Fortress’s shares, along with substantial pay-outs for the company’s shareholders. These investors received over eight dollars per share and upon the completion of the merger, Fortress’s stock was removed from the New York Stock Exchange’s trading index. Fortress’s executives in charge of operations Peter Briger, Wes Edens, and Randy Nardone were able to keep their positions with Fortress as Softbank repositioned the company to an independent entity of Softbank’s operations.

Fortress Investment Group’s leadership consists of two Co-Chief Executive Officers in Peter Briger in San Francisco and Wesley Edens in New York City. Co-founder Randal Nardone is also located in New York City and shares his co-founder title with Wesley Edens. Peter Briger heads the department of real estate and credit operations, having successfully acquisitioned clientele from the United States and abroad. Wesley Edens is responsible for handling the company’s private and publicly traded investment equity. Randal Nardone represents the management committee and assists Wesley Edens with the day to day operations. All three men sit on the board of directors as well.

Fortress Investment Group’s commitment to excellence and providing sound financial strategy to their clientele remains at the forefront of their agenda. Even post-merger with Softbank, Fortress continues to thrive in the competitive, results-driven financial environment. Since its founding in 1998 as private equity investment firm, their business model has launched the company into a global powerhouse, eventually catching the eye of Softbank. Fortress has the ability to still carry on their vision and apply their knowledge and expertise in furthering the financial success of the clients they represent.

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