Fortress Investment Group is one of the United States’ most popular alternative asset managers. Founded in 1998, Fortress Investment Group has grown into managing roughly $41 billion of institutional investors’ and private clients’ assets under the current direction of Peter Briger, Wesley Edens, and Randal Nardone; Edens and Nardone were both original founders of Fortress, whereas the other original founder Robert Kauffman – retired from Fortress in 2012 and was soon replaced by Peter Briger.
The New York-based investment firm currently employs over 925 workers – a statistic which includes 205 certified, professional investors – around the world.
What does Fortress Investment Group do?
Understanding what many financial services companies do is difficult to understand; after all, finance isn’t exactly the easiest industry to learn about. Some of these companies purposefully shroud their activities in mystery to allow stakeholders less insight into their operations. The same can’t be said about the crystal-clear operations and intentions of Fortress Investment Group – here’s a breakdown of the firm’s activities that generate revenue.
The main portion – the entrée, if you will – of Fortress’ revenue-drawing activities is the management of clients’ assets. As a hallmark of alternative investment management groups, Fortress Investment Group places its clients’ 41-odd billion dollars’ worth of assets in a wide variety of asset classes at varying levels of risk.
New York City’s Fortress consults its clients on the industries in which the firm invests their assets; each sector and asset class is best explained by specialists in those financial niches who Fortress employes.
Fortress is able to reliably source funding for its clients’ operations at low rates and risk; as such, many of this firm’s 1,750-odd clients trust Fortress to both manage its assets and seek out financing for their individual needs. The firm also engages in the oversight of corporate acquisitions and mergers for its nearly 2,000 clients.
About the Management Committee
Peter Briger, co-CEO of Fortress, has been a member of the company since 2002 – he worked at Goldman, Sachs & Co. for 15 years prior to joining Fortress’ ranks. Wesley “Wes” Edens and Randal Nardone have been with the company since its 1998 incorporation.