Alternative Asset Management: Fortress Investment Group

The finance industry has experienced continuous growth over the last several decades. While it has experienced growth, it has not been without time periods of difficulty. Fortress Investment Group has managed to create an image for itself as well as a reputation as one of the world’s leading companies in private equity investment in alternative asset management. In 2007 it became the world’s first publicly traded private equity investment firm. The corporation was founded by its five principles founding members including the current chairman Wes Edens. Wes Edens had experience in the finance industry having served as a managing director for the Lehman Brothers financial Corporation for several years before becoming a partner at Blackrock asset management Corporation. In 1998 Wes Edens along with the help of the other four principal founding members created Fortress Investment Group as a private equity investment firm.

In the interim years between 1999 and 2006 Corporation was able to grow its assets by 39.7%. This is an impressive amount of growth in the relatively short period of time. However, not long after it held the world’s first initial public offering for a private equity investment firm the global economy was shook to its very foundations by the 2008 financial crisis. During this financial crisis, the assets under management by Fortress Investment Group were put under duress. At the time Fortress Investment Group was helping to finance the building of the Olympic athlete’s athletic village in Vancouver British Columbia. Due to the financial stresses the company was under it was forced to make the province pay in advance for the completion of the Olympic athlete village. Several years later after 2010 the Olympic athlete’s village was completed and was put under the ownership of Fortress Investment Group.

Fortress Investment Group has gone on since this incident to experience significant growth in the last several years. In 2017 it became the target of a corporate acquisition. Fortress Investment Group was acquired for $3.3 billion by Japanese technology conglomerate SoftBank group. This corporate acquisition was initiated during the spring of 2017 in February and was closed during the last week of December of the same year. Fortress Investment Group was able to maintain its independence from SoftBank group, and Wes Edens is still currently acting as the corporation’s chairman and president. They are currently managing slightly over $70 billion in alternative assets.

The Corporation manages a wide, diverse customer base with over 1750 institutional investment clients and private investors across the globe. It has expertise in core competencies and several asset classes. All of the investments undertaken by Fortress Investment Group are asset-based and with this asset-based investing, and they are able to bring significant experience to include the management of a diverse range of asset classes. With a long history it in-depth industry knowledge they have managed to help clients create profitable investments in numerous industries. They are primarily focused on private equity, credit hedge funds, private capital vehicles, and credit private equity. They are one of the leading alternative asset management corporations in the world.

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