Fortress Investment Group: Scaling the Heights of Asset Management
When Wes Edens joined his associates to start an asset management company, he did not know that the company would turn out to be an internationally recognized financial services provider. Today, Fortress Investment Group has scaled the heights of becoming one of the leading asset management firms in the country.
The Establishment of the Company
Over the years, Fortress Investment Group has become a competitive asset manager that handles liquid hedge funds. Established in 1998, the firm is located in New York, and since then, it has been able to provide outstanding financial services due to its expertise in the field of investment. As at now, the company handles about 1,500 organizations with some of these organizations being private companies. Also, the company has employed over 800 workers to assist in asset management.
Recently, an article was posted in Patch.com. According to the article, Fortress Investment Group attributes its success to innovation as well as the ability to adjust to high-risk returns. Having been recognized as the first private company to be part of the New York Stock Exchange, the company has rightfully earned a stellar reputation over the years.
Currently, the company offers a broad spectrum of services by managing about $43 billion of assets in different units. In addition to that, the company boasts of having the right expertise to handle asset-based investments, general knowledge of different competencies, capital markets, and hedge funds. Besides, the team of management handles clients in three different segments namely; private equity credits, permanent capital vehicles and special opportunity funds.
Growth and Expansion
The first decade of the company’s existence included the culmination of its initial public offering. In 2006, the company had expanded its operations to different units including the Drawbridge Special Opportunities Fund, and Fortress Brookdale Investment Fund. On top of those accomplishments, the company added two major players to its portfolio of services. Michael Novogratz joined the company from Goldman Sachs where he served as the fund’s manager. Moreover, he proceeded with the role until when it was time to leave in 2015, where he turned to different roles in the development of cryptos. Above and beyond, Peter Briger joined the company with a wealth of knowledge in finance and asset management. As such, the company became a revolutionary investment advisor controlled by major experts.