Fortress Investment Group is famous in the world’s investment sector. The firm is respected for its dedicated team of experts with industry-specific knowledge in the financial, real estate, and transport industry.
Fortress cooperates with over 1750 institutional and individual investors, and it manages physical & financial assets worth $40 billion. It is one of the leading investment management firms in the United States.
How did Fortress advance to the industry’s top tier? We have shed light on some of its significant historical developments to help you understand.
The establishment of Fortress Investment Group
Fortress was established two decades ago. During that period, the hedge fund served a few investors in New York, Toronto, and other select areas in the United States. The firm operated under the management of Nardone, Edens, and Kauffman.
Fortress used a unique investment philosophy to outwit its competitors. It invested its private equities into lucrative investment schemes in the real estate and finance industry. Within five years, the investment management firm was managing assets worth $ 3.9 billion.
In 2002, Fortress added Peter Briger and Michael Novogratz into its team of managers. The duo brought in their management prowess from Goldman Sachs.
In 2007, Fortress Investment Group went public. The move gave the company a breakthrough in the US investment industry. Within the same year, its assets grew to $32.6 billion, and it acquired several companies operating in the gaming, transport, financial, and hospitality industry.
Some of the companies acquired by the investment management firm were; Penn National Gaming, Intrawest, and Florida East Coast Railway.
Fortress Investment Group after a decade
After one decade, Fortress extended its boundaries to other parts of the world. It launched the NPL Opportunities Fund, an arm that focused on the Japanese market. Moreover, the investment manager opened additional head offices in Singapore, Shanghai, and San Francisco.
It expanded its investment portfolio by acquiring Mount Kellet, Logan Circle partners, and other key companies. Moreover, Fortress increased its investment vehicles by introducing Fortress MSR Opportunities, Infrastructure Fund, and Intellectual Property Fund.
Softbank Group Corporation purchased the investment management firm. Under the ownership of the Japan-based tech investor, Fortress acquired Tiffany building, and it invested in Brightline rail project.