Fortress Investment Group is an American investment management firm based in New York City. The company was founded in 1998 by Wesley Edens, Rob Kauffman and Randal Nardone. As of December 2017, Fortress had $70.2bn in assets under management across approximately 130 funds and investors including corporate pension plans, public institutions, and private individuals.
Early years (1998–2010)
The company was founded as a private equity firm in the big apple in 1998 by Wesley Edens, Rob Kauffman and Randal Nardone. In 2006, it sold a $600m portfolio of private equity funds to the State’s Common Retirement Fund. Then in 2007, it raised a diversified private equity fund with institutional investors that had the capacity for new capital of US$8.25bn.
Later years (2010-present)
Fortress was name “Hedge Fund Manager of the Year” in 2014 by Investment Management. The ever-expanding investment firm that Fortress is now has approximately 130 funds and investors including corporate pension plans, public institutions, and private individuals. In 2015 Fortress acquired New York City real estate lender Springleaf Financial Services for $3 billion from the Royal Bank of Canada’s RBC Capital Markets unit.
In conclusion Fortress Investment Group is a new investment firm that has been recently gaining a lot of attention from news and media outlets. It is a New York based equity firm that has been loaning the cities real estate companies for many years. Fortress Investment Group had a nice little compilation of city retail, commercial, hotels and residential properties.
These properties within the city were becoming harder to manage considering the overall scale of the sprawling metropolis. Therefore, the cities real estate assets and loans were becoming more difficult to manage companies based in the city. Fortress Investment Group has led to this change. Go Here for related Information.