Fortress Investment Group, a 72 Billion Dollar Assets Management Firm
Fortress Investment Group was founded back in 1998. The founders of the company are Rob Kaufman, a former employee of UBS, Wesley Edens, a former Lehman Brothers employee and Randal Nardone from UBS and a former partner at Blackrock as well. These three different and highly experienced individuals came together to launch the company. Fortress is an assets and investments management firm. The company started up as an investment firm and by the year 200, it grew into a hedge fund and also began making investments in the real estate sector once Peter Briger and Michael Novogratz joined its leadership from Goldman Sachs.
The company continued to increase its assets and by the year 2005, with an IPO from the Lehman Brothers and the Goldman Sachs, the company became the first ever private equity firm to offer its stock in the stock exchange. Currently, the company manages more than 72billion- worth of assets forms clients of all walks from different parts of the world. The company serves the individual, corporate, public and private companies in different industries and different parts of the world. The company also has more than 20 companies in its portfolio.
The acquisition by SoftBank
After deliberations that began in February 2017, Fortress Investment Group and SoftBank situated in Japan announced publicly that the company had just been sold to SoftBank for 3.3 billion dollars. At this time, the stocks in the company were trading in the stock market for 5.38 dollars per share. SoftBank agreed to buy each share at the cost of 8.83 dollars per share. This meant that the shares would be struck from the stock exchange and the company once again would become a private equity firm. The five principals of the company each walked out with almost a billion dollars or more from the sale of their shares. SoftBank agreed to allow the heads of company to retain their positions and the company to remain headquartered at New York and not Japan.
The launch of Brightline Train
Fortress Investment Group has always been a trend setting firm. Recently, it launched the first ever privately owned and managed train in the United States.