2018 proved to be a year of epic change for the investment firm Fortress Investment Group. The firm which was founded in 1998 celebrated its 20th year in business and was also acquired by SoftBank Group Corporation, one of the most well-known and established financial conglomerates in the world. The multibillion-dollar purchase by SoftBank will keep Fortress Investment Group involved in many of the latest developments in the global real estate market as well as private equity funds for the foreseeable future.
Fortress Investment Group since it was founded in 1998 has become a well known financial firm that began as a hedge fund before growing to become an investor and financier as well. In 2007, Fortress became the first fund of its kind to become publicly traded on the New York Stock Exchange.
With the sale of Fortress Investment Group to SoftBank was completed in December of 2017, last year saw the $40 plus billion in assets managed by Fortress independently by Wes Edens and Randal Nardone in New York, as well as Peter Briger in San Francisco, beginning its integration with Softbank’s global plans. When the sale of Fortress to SoftBank was complete Fortress Investment Group again made history at the New York Stock Exchange by becoming the first private equity firm of its kind to be delisted when it ceased trading in December of 2017. Click here to learn more.
With Fortress Investment Group no longer being a publicly-traded company Chief Executive Officers Peter Briger and Wesley Edens will no longer be required to do many of the tasks that occupy a significant portion of the CEO of a publicly-traded company’s time. This will likely free both Mr. Edens and Peter Briger to focus on core operations and investment strategies instead of quarterly calls, etc.
The acquisition of Fortress Investment Group will grant SoftBank access to the top-notch experts in private equity and asset management. Fortress, with its leadership team of Peter Briger, Wesley Edens and Randal Nardone is going to help SoftBank ensure the company maintains and expands on its position as an industry leader. Visit: https://entrepreneurs.princeton.edu/people/peter-briger-jr-%E2%80%9886