CEO, Leadership

The History of the Fortress Investment Group Company

The Fortress Investment Group was created as a private equity agency in 1998. It has three primary founders namely Randal Nardone, Wesley R. Edens, and Rob Kauffman. It is currently based in New York; America and it was the first notable private equity American company to be traded publicly.

The latter happened on 9th February 2007 during its launch on the New York Stock Exchange. The firm was in charge of about $45.5 billion (as of 30th June 2020) alternative assets in credit funds, liquid hedge funds, and private equity.

Despite being founded as primarily a private equity firm, the Fortress Investment Group eventually mushroomed into other areas. Some of the fields include debt securities, hedge funds, and real estate. It experienced rapid growth and development which was proven by its funds’ netting (private equity) which hit 39.7% from 1999 to 2006. Upon the global recognition in 2007, at the NYSE launch, the firm sadly experienced a huge impact of the 2008 downturn according to Forbes.
2010 to Date

The Fortress Investment Group received an award for being the best Hedge Fund Manager in 2014 courtesy of the Institutional Investor. In the same year, the company was also recognized for having an exemplary management team by the HFMWeek.

Besides the mentioned, the Fortress Investment Group boasts of many other awards for being the flexible and focused macro firm (Hedge Fund) credit-focused annual company.

The company hired Jeff Feig in 2014 (Autumn) who teamed up with Novogratz and built its Macro-Fund sector immensely. Feig however stepped down from the company in July 2015 which saw the end of the Fortress Macro Fund that had hit the $2.3 billion mark. The firm was sold to SoftBank Group on Feb 14th, 2017, for $3.3 billion. The payment was completed in the last week of the same year. To know more click: here.