Fortress Investment Group was established in 1998. The three highly experienced investors who started the company were Wesley R. Edens, Rob Kauffman, and Randal Nardone. Both Mr. Nardone and Mr. Edens were alumni of the BlackRock Financial Inc. Edens had been a Managing Director, and Nardone was a Principal at BlackRock. Kauffman, who has since retired, had been a Managing Director at UBS prior to co-founding Fortress. Mr. Nardone had also worked at UBS. The three led the investment management firm to astounding success. By the second quarter of 2016, Fortress Investment Group managed about seventy billion dollars in assets.Today Wesley Edens serves as Co-Chief Executive Officer and is a member of the Management Committee of the Board of Directors.
An interesting fact about him is that he has been a mountaineer. He climbed The Grand Teton and in Switzerland ascended the Matterhorn. He is also co-owner of the basketball team the Milwaukee Bucks and is diligently engaged in helping people in Milwaukee. Another Principal in the firm is Peter L. Briger, who also serves as Co-Chairman of the Board of Directors. He oversees the Real Estate business at Fortress and is also in charge of the Credit Business at the company. Mr. Briger was formerly a Partner at Goldman, Sachs & Co. He graduated from Princeton and has an MBA from the Wharton School of Business. Working out of the San Francisco office, Peter Briger is very active in the community and the great charitable organizations there. He serves on the Board of Tipping Point which helps the needy in that city. He is also on the Board of Caliber Charter Schools.
In February 2007 Fortress became a publicly traded company on the NYSE. Its traing symbol is FIG. That move on that date made Fortress Investment Group the first private equity group to be traded publicly on the stock exchange. FIG practices strategies in real estate, credit funds, private equity, capital investment, and hedge funds.In 2017 Soft Bank Corp. bought Fortress Investment Group. Shareholders at Fortress had voted to authorize the deal on July 12, 2017. The acquisition cost was 3.3 billion dollars. Soft Bank Corp. is based in Tokyo. It has been established that Fortress will remain headquartered in New York City and continues to conduct business independently. FIG is a well-respected investment management firm that maintains and grows assets for over fifteen hundred investors, including both institutional and private financiers. Fortress Investment Group is an international entity.