Fortress Investment Group: A Pacesetter for Over Two Decades

The business world is filled with competition, with each business striving to offer services or products that beat those of its competitors. However, not many survive the inevitable competition in its many forms. Notably, Fortress Investment Group has mastered the art of trendsetting for a record two decades; thus, emerging as a prominent global investment management firm.

Fortress’ Sunrise

The dawn of the New York-based Fortress Investment Group is accredited to three visionary entrepreneurs, who envisaged a gap in the market and boldly stepped up to fill it. In 1998, Randal Nardone, Wes Edens, and Rob Kauffman pooled vast financial capacity and competence amassed from their previous involvements to implement the scheme. Already, there was a growth in assets within just five years of operation and further to $32.6 billion by 2007. Today, the investment firm manages over $43 billion in assets for over 1,750 investors, with an enormous employee base of over 900 people.

While Edens and Nardone still manage the Investment Group, Kauffman remained for only 15 years before delving into car racing. Even so, the leadership was redefined by Michael Novogratz and Peter Briger who joined in 2002. The former exiting in 2015 whereas the latter is currently a principal.

In pursuit of superpower status

Like any other commercial outfit, Fortress Investment Group has been busy defining its market niche with an array of critical acquisitions between 2006 and 2007. Some of these acquisitions include the Canadian company Intrawest, RailAmerica, Penn National Gaming, and Florida East Coast Industries. In 2010, it acquired American General Financial Services from AIG and later christened Springleaf Financial Services. As it grew, Fortress opened a second U.S. headquarters in San Francisco and other two offices in Asia in 2011.

Acquisition by SoftBank

In a win-win $3.3 billion deal, Fortress Investment Group was acquired by the SoftBank. The acquisition had the objective of combining efforts and overcoming the curtailments to entrepreneurial fortune in the worldwide market. Nonetheless, the leadership and operations would continue routinely. Fortress Investment Group has managed to map its way to become a household name globally from its tiny baby steps. While embracing opportunities available, its leadership has acclimatized to the dynamic market hurdles to remain an indomitable power match.