What Makes Fortress Investment Group Tick
Fortress Investment Group is a 20-year old investment management company that is into all of asset management, liquid markets, credit, and private equity. It was founded by Rob Kauffman, Wesley Edens and Randal Nardone in 1998. While it has several branches in different parts of the world, Fortress Investment Group is headquartered in New York City, United States.As at 2016, the company had yielded revenue of about US$1.1 billion and at that time, its net income was estimated to be US$180 million. Fortress Investment Group has over 2,500 employees on its payroll. Currently, its parent company is SoftBank Group and its subsidiaries are Newcastle Investment Corp, New Residential Investment Corp, New Senior Investment Group, and New Media Investment Group.Being in operation for about 2 decades is an indication that Fortress Investment Group is good at what it does. There is no way a company can be in operation for that long with poor services or poor products. When launched on the NYSE in 2007, it was the first large private equity company to be traded publicly in the United States.
To underscore the success of the company, the firm had managed about $70.2 billionaire alternative assets in credit funds, liquid hedge funds, and private equity as at 2016. You won’t be surprised at the success of the company when see the list of the members of its board of directors.Here are members of the board of directors of Fortress Group. Both Wesley Edens and Peter Briger are co-chairmen. Others are George W. Wellde, Michael G Rantz, Douglas L. Jacobs, David B. Barry, and Randal A. Nardone.Apart from the caliber of people in the management team of Fortress Group, its success can also be hinged on its competencies which are capital markets, corporate mergers and acquisition, operations management, industry knowledge, asset-base.And indeed, they have a management team that has in-depth knowledge in specific industries. Of the assets under their management, $8.9 billion is in credit hedge funds, $15.1 billion is in credit private equity, $7.8 billion is invested in permanent capital vehicles, and $6.5 billion is in private equity.Fortress Investment Group also supported the 2010 Winter Olympic Games (Vancouver, Canada) in several ways.
They own Whistler Blackcomb that was the main skiing site of the Olympic Games. Apart from that, they were also involved in retrofitting the Athlete’s Village in Vancouver. In addition, they supported the event financially.SoftBank Group, a Japanese technology company, acquired Fortress Investment Group for $3.3 billion to launch itself into the United States financial markets. This deal has been described as a giant step forward for the Japanese company.Employees of the Fortress Group have rated the company high with an average of 4 out of 5 stars. According to them, one of great qualities of company is regular employee training. They value training so much. If you are always ready to work hard and learn new things, you will rise faster as you will always get higher responsibilities. In other words, one of the secrets to the success of the company is meritocracy. You will only get higher responsibilities when you perform creditably well in your existing position.