Fortress Investment Group has remained dominant in the investment sector over the years. Since its establishment in 1998, the investment management company has continually shown outstanding performance that no one ever anticipated during its formation. Founded by its three founders Wes Edens (currently a principal), Randal Nardone (currently a principal), and Rob Kauffman (retired in 2012); Fortress was headquartered in New York. As a private equity firm, the main intention of creating Fortress was to bring into existence a special type of investment strategy that would help raise funds from private equity and reinvest it in cutting edge vehicles.Lucky enough, Fortress Investment Group kicked off as a success attributed to a combination of deep skills and experience possessed by its founders, who had worked in other reputable financial and investment organizations for long periods. Such firms include BlackRock Financial Management, UBS, Goldman Sachs, and Lehman Brothers.
In 2006, Fortress started implementing its deep proficiency in managing Mergers and acquisitions, a core competence that has seen the firm’s managed assets grow sharply. It started by acquiring the largest ski resort operator in North America, headquartered in Canada, Intrawest. Later between that time and 2007, Fortress Investment Group purchased other firms like Penn National Gaming (which operated casinos and horse racing venues), Florida East Coast Industries (a company that owned Florida East Coast Railway), and also RailAmerica.Later in 2010, the group again purchased AIG’s American General Financial Services, an organization that later changed to Springleaf Financial Services. Other firms that were involved in either partnerships or acquisitions with Fortress Investment group were Logan Circle Partners, Mount Kellett, D.B. Zwirn & Co., and Graticule Asset Management Asia. The most interesting thing about all these acquisitions was that the acquired properties’ value always increased after the management was transferred to Fortress. For instance, after the acquisition of Springleaf Financial Services, its value skyrocketed to $3.5 billion, a gain of more than 27 times its original value.
About Fortress Investment Group
No doubt Fortress is the champion of investment management. Being a global investment leader, the firm has established other headquarters outside New York to increase its market reach. Also due to its effective management, the company’s employees are very grateful for working there. This has been demonstrated by the high and positive review that Fortress gets from its personnel on its website. All this can be attributed to the fair treatment and growth opportunities that the firm offers to its employees. Learn More.