Fortress Investment Group is quite a large firm with multiple asset classes and one of the broadest arrays of strategies they invest in. They are currently owned by Softbank Group Corporation based in Japan, but they still operate with much of the same autonomy that they’ve had over the years. Fortress Investment Group has four specific private equity divisions in regular funds, credit private equity, permanent capital vehicles and credit hedge funds. More specifically though, their strategies are found in a lot of digital information based companies with portfolios that include cryptocurrency, artificial intelligence, Internet of Things developments, and new energy initiatives.
Over the 20 years of its history, Fortress Investment Group has become worth more than $43 billion in total assets. The company was founded by its three current executives Wes Edens, Peter Briger and Randal Nardone, and the now retired Rob Kauffman. They had previously served as advisors and portfolio managers for clients at investment banks like Goldman Sachs, Union Bank of Switzerland and Lehman Brothers, and in 1998 they began the capital raise for their own boutique investment firm. It started around $400 million with traditional financial funds as well as real estate, and the first two major funds they launched were Fortress Investment Fund I and Fortress Brookdale Investment Fund in various North American cities. The firm added several major institutional investors over the next several years and by 2003 it had grown it’s AUM to over $3 billion. In 2007, Fortress became the first private equity firm to issue an IPO on the NYSE and became worth over $30 billion. From there they’ve bought shares in thousands of companies around the world.
One of the first big companies Fortress Investment Group bought was Intrawest, one of the world’s top ski resort managers based in Canada. A more recent venture they will be making under the leadership of former company managing director Rajeev Misra will be at what’s projected to be the world’s largest solar generators in the Arabian Desert. The firm has received several financial industry recognitions including Institutional Investor magazine’s “Credit-Focused Fund of the Year” in 2011.
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