Fortress Investment Group is a New York City-based investment management firm which was established in 1998 by businessmen and entrepreneurs Randal Nardone, Rob Kauffman, and Wesley Edens. The investment management firm debuted at the New York Stock Exchange (NYSE) in February 2009, and the company was recognized as the first gigantic private equity firm in America to be publicly traded. Today, the Fortress Investment Group is actively managing a lot of investments and assets, amounting to more than $70 billion. It includes assets in private equities, credit funds, and hedge funds. Since the company’s establishment in 1998, it has undergone several changes, and they are pursuing to still become one of the best investment management firms in the United States.
When conceptualizing about the next firm that they will be introducing to the public, the group of three businessmen – Randal Nardone, Rob Kauffman, and Wesley Edens – thought that putting up an investment management firm would be the best idea for a business. The three founders of the Fortress Investment Group had previous experiences with the financial sector, is a former partner and a managing director at the Blackrock Financial Management, Inc. The founders of the company realized that putting up their own business would yield more profits for them, and so they went on to their journey and founded the Fortress Investment Group in 1998.
After its introduction to the public, information about the investment management firm quickly spread, and their investments and assets grew tremendously. The value of the company’s private equity fund has reached an all-time high of 39.7%, and many experts agree that the company will soar higher under the management of its founders. During the 2008-2009 financial crises, the Fortress Investment Group experienced a little issue with their revenue, and they had to cut expenses and to think of a more dynamic approach to the economic recession that is being experienced by so many countries, and his Linkedin.
The recession ended after 2009, and the Fortress Investment Group is slowly getting back on track. They received several awards in the 2010s decade, including the Hedge Fund Manager of the Year award that was given by the Institutional Investor. He was also given the Management Firm of the Year award, and HFMWeek gave it. Aside from the major awards, the Fortress Investment Group is also receiving minor recognition for their excellence in keeping the company intact despite the threats from external occurrences, and what Fortress Investment Group knows.
In 2010, the company was involved in an issue concerning the construction of the athlete’s village for the 2010 Vancouver Olympics. The company was on a brink of bankruptcy when the Olympics are just a few months away. Fortress Investment Group was named as the main lender to the Millennium Development Group, but the company had declared bankruptcy, and there are no ways on how they can provide the money to create the athlete’s village. The government of Vancouver stepped in and paid the contractor the money that they wanted. The athlete’s village was completed just before the Olympics, and the whole property now belonged to the Fortress Investment Group, and read full article.