The Grass To Grace Fortune Of Fortress Investment Group
It has become hectic to most asset owners to manage their property and especially the real estates and other investments that need close monitoring. For that reason, many asset owners find it worth to lay the stress off by contracting individual firms like Fortress Investment Group to do the management.
That is how the company came into play in 1998. The founders; Wes Edens, Randal Nardone, and Robert Kauffman brainstormed the operations of the group to provide solutions in alternative management. They chose to specialize in Credit funds, asset management, and private equity.
With a capital of $ 400, they set up the first office which is still the capital of Fortress Investment Group in New York. The company has seen its sprouting over the two decades to a whopping $71 billion worth of assets. Besides the value, it has spread to other countries and cities like Dallas, Singapore, Shanghai, Los Angeles, and Rome.
Danielle Mudd was appointed the CEO in 2009. He served in that position until 2011 when Randal the co-founder stood in to fill the gap. Michael Novogratz came in as a fund manager (2002-2015). The Other name that has seen this investment grow to good height is Peter Bridger.
Fortress Investment Group was enrolled in the New York Stock Exchange platform in 2009 under the leadership of Danielle Mudd. It became a force to reckon due to the steady performance in the marketplace. The trend kept on for years down the line attracting many shareholders.
The role the investment group has played in employment is worth applause. With over 2,000 direct employees and other indirect employees, it becomes one of the largest alternative management investment firms in the world. It serves approximately 1,700 clients across the world.
Among many other achievements, Fortress Investment Group came in handy to heavily fund Millennium Development Group (MDG) in 2010 Olympics. MDG was to construct an athletes’ village worth $875 in Columbia.
In January 2018, the mighty investment Group was sold to Japan’s Soft Bank Group at $3.3b. The cream management was retained to steer the management processes in five-year contract terms. The new owner has maintained the headquarters of the investment at New York City.