Fortress Investment Group was formed in 1998 and has been setting trends ever since. In excess of $43 billion in assets is directed by the global investment management firm for 1,750 hedge fund, permanent capital vehicle and private equity investors. Their long term strategy provides investors with strong, risk adjusted returns. The company extracts value from their intricate investments using the tools they have developed. Their expertise regarding managing acquisitions and mergers is excellent. This is partially due to the relationships their personnel have with corporate stakeholders, management professionals and corporate board members. Fortress Investment Group is an expert in securing financing though equity and debt markets.
Randall Nardone is the founder and current principle of Fortress Investment Group along with Wes Edens. In 1992 Rob Kauffman retired. They men were interested in creating an alternate type of investment firm. Their assets grew at an exceptional pace. In 1999 the Fortress Investment Fund I was launched as the first investment vehicle for the company. The company began investing in real estate then expanded into hedge funds and debt securities. The first decade was dramatic and included the initial public offering. The first investment fund was followed by additional versions. Funds began to come online including the Drawbridge Special Opportunities Fund, the Fortress Brookdale Investment Fund, the Long Dated Value Funds, the Fortress Partners Fund and the Drawbridge Global Macro Fund.
Michael Novogratz and Peter Briger joined Fortress Investment Group in 2002 as additional key players. During 2006 and 2007 several key acquisitions came into play including the Canadian company Intrawest, RailAmerica, Penn National Gaming and Florida East Coast Industries. In 2007 the company occupied the center stage. They were the first United States hedge fund to launch an IPO. This significantly raised the profile of the company. At this point numerous news funds came online. Internationally focused funds became part of the portfolio including many Asian oriented funds and the Italian NPL Opportunities Fund. AIG’s American General Financial Services was acquired in 2010. Fortress skyrocketed the value in excess of 27 times to $3.5 billion.
The leadership of Fortress Investment group gained recognition for their success and leadership. They began receiving prestigious awards culminating with the Hedge Fund Manager of the Year. The company is currently segmented into the three categories of permanent capital vehicles, private equity and credit. The company is continuing their global expansion and now services numerous different countries.
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