When you need help managing assets ranging from long term cash flow to real estate, you need one of the world’s largest companies to assist you! Fortress Investment Group know a thing or two about managing all of your physical and financial assets to make sure they are safe and secure for a very long time. Their experience with acquisitions and mergers allow them to work with stakeholders to determine the execution of an investment. Fortress has a team of investment professionals whom have relationships and expertise with a variety of institutions and companies alike.Since their founding year of 1998, they have launched investment funds and made acquisitions very rapidly for their industry. Fortress Investment Group started as a private equity firm in New York City by Wesley Edens, Randal Nardone and Rob Kauffman.
All three gentlemen came from a background of business and finance, making them a triple threat to the investment world. When Fortress launched on the New York Stock Exchange in 2007, it was made the largest private-equity firm in the United States to be publicly traded.Although the economy downfall hit the nation very hard a year later, they have since acquired multiple portfolio companies making them remain on top of their game.In 2010, Fortress Investment Group invested $875 million dollars to Millennium Development Group to build an athletes village for the Winter Olympics in Vancouver, Canada. With the project being completed in November of 2009, Fortress Investment Group became the owner of the athletes village after the Winter Olympics. In 2011, they opened offices in San Francisco, Singapore and Shanghai. They also launched the Fortress Asia Macro Fund, winning them “Best Singapore Hedge Fund” and “Best Asia-Based Macro Fund” awards in 2013. They previously won the “Best New Asia Hedge Fund” award in 2012.
With a launch of less than 2 years, they had already made themselves a household name from a country they chose to open an office- making them VERY valuable!A decision to be buy Fortress Investment Group was made in 2007. The company to be so fortunate to do so was Softbank Group Corp for $3.3 billion. This was a major game changer for both companies to gain from. At the time, the IPO was at $18.50 a share but with the financial crisis, the amount went down to only .77 a share as many companies were afraid of taking a risk of things getting worse. Fast forward 10 years later in 2017, the buyout became official when the public community to appreciate their shares again. Being in public was very difficult for Fortress to do because they wanted to convince their shareholder community that their investments were worth a lot more. So now they will operate as an independent company within Softbank Group Corp. The purchase was very interesting for the financial community because SoftBank is known for being in technology and now becoming a part of the financial world is a big change in their company’s strategy.
Randal Nardone is the CEO and Principal of Fortress Investment Group which he co-founded with Wesley R. Eden in 1998. He received his Bachelor of Arts in English and Biology at the University of Connecticut and his Juris Doctor Degree from Boston University School of Law. Before co-founding Fortress Investment, he worked as a Managing Director of UBS, a Principal of BlackRock Financial Management, and as a member of the executive committee for the Thacher Proffitt & Wood law firm.Nardone has served on the board of directors at Fortress since 2006 and currently manages all of the company’s finances and legal matters. The business was originally a private equity management firm but it later expanded to include the management of real estate, hedge funds, and debt security.
The firm was first publicly traded in 2007 and became the largest private equity firm to do so.Fortress Investment Group manages over 1,700 clients and $43.6 billion dollars in assets. Employees have been known to comment on the fast paced nature of the company and how insightful it is to work with a management team that pushes them to do more and recognizes their achievements. Fortress Investment group was acquired by SoftBank Group as of December 27, 2017 for $3.3 billion. After the acquisition, Class A shareholders received $8.08 per share and Fortress common stock ceased to be traded on the stock market.
The office still operates independently and Randal Nardone and the other Principals have not been removed from their positions. Nardone and the rest of the Principals have agreed to give half of the after tax revenue from the acquisition to Fortress-managed funds that are aligned with limited partner investments and equity securities of SoftBank. Aside from his main job at Fortress, Randal Nardone serves as the Director of Eurocastle Investment Limited, President and Chairman of Springleaf Financial Holdings, Non Executive Director of Alea Group Holdings Bermuda, and Director of Florida East Coast Holding Corporation among other titles.
Successful businessman Wes Edens financially backs plan to keep the Oakland Raiders in the city of Oakland and establish the necessary funding and resources from Fortress Investment Group to allow a new stadium to be built in Oakland and solidify the deal to remain in the city. Wes Edens is currently Private Equity Chief Investment Officer and President and Head of Private Equity at Fortress Investment Group LLC. Wes Edens was educated at Oregon State University with a Bachelor Degree in Finance and also received a Business Administration Degree as well. After a successful career at various high-level investment positions within multiple investment firms and other lending institutions, Wes Edens has established a reputation as a true businessman and intelligent investor. In fact, Wes Edens specializes in alternative assets at Fortress Investment Group including Illiquid credit Investments, distressed assets, and also undervalued assets and various other asset classes as well.
With a strong knowledgeable well-informed staff at Fortress Investment Group, Wes Edens has surrounded himself with some of the more brilliant minds in the investment and credit industry. The staff at Fortress Investment Group provides high-level analysis and evaluation opportunities that create lucrative income streams and profitable returns on investment from various investment categories. Furthermore, Fortress Investment Group is a global conglomerate with over 1,600 institutional and individual clients that comprise of a vast portfolio of over $67.5 billion in assets under management. Currently, Wes Edens is co-owner of the Milwaukee Bucks and has become has become one of the more recognized owners within the sports industries and a go-to person for establishing credit and resources to finance various construction projects for stadiums and other sports complex. In particular, Wes Edens was brought into the conversation to bring about a resolution to the Oakland Raiders potential move to Las Vegas.
Wes and Fortress provided the necessary resources and investment capital to allow the Oakland Raiders to propose a way to actually remain in Oakland. Wes Edens has established himself as one of the most knowledgeable and insightful investment managers that can facilitate the level of expertise needed to accomplish the difficult negotiations within the sports arenas. Furthermore, Wes Edens brings years of experience with creating opportunities to pull together investment capital and resources along with institutional credit vehicles that allow his partners to create opportunities for successful sports ventures. As a knowledgeable businessman and skillful investor, Wes Edens has created an opportunity for the Oakland Raiders to not only build a new stadium within Oakland but also provide the resources needed to create a stadium sports complex that’s second to none within the league.