The Fortress Investment Group was recently purchased by a Japanese conglomerate called the Softbank Group, for a reported amount of $3.3 billion. The Softbank Group has been monitoring the performance of the Fortress Investment Group for years, and they are impressed about how the company managed to survive the recession in 2008 and ended up increasing their assets and investment. The Softbank Group initiated an acquisition, and the current principals working with the company – Wesley Edens, Randal Nardone, and Peter Briger – agreed to the contract presented to them. They retained their positions as the company’s principal after the merger, and their roles and control over the company became more significant. Now that they are under the ownership of a foreign company, the principals stated that they will be working harder to show their clients that they are still focused on doing their jobs.
The Fortress Investment Group recently celebrated their 20th anniversary. The company was established in 1998 by Wesley Edens, Randal Nardone, and Rob Kauffman, who has already resigned. The three worked with several other financial institutions before they agreed on the idea of creating their own business. They thought about what kind of business they should establish, and after doing a little research, they realized that creating an investment firm has the highest chances of turning them into billionaires. After everyone agreed on the plan, the Fortress Investment Group was founded. At first, it was difficult for the founders to gain new clients, but because of their perseverance and hard work, the company managed to win new investors who have worked with them closely.
Initially, the company only has a handful of assets under their account, but within a few years, it rose to a million, then to a hundred million, under they breached the billion-dollar mark.The founders of the Fortress Investment Group stated that they are pleased knowing that they have reached success, and thanked everyone who helped them through their journey. The company continues to show impressive performance, as they were introduced to the stock market through the New York Stock Exchange, and 8% of their total value was given to the public for trading. The company is also remembered as being the partner of the city of Vancouver in prioritizing the creation of the Olympic Village. The Fortress Investment company shared some funds to the city of Vancouver to finish the project, and it was later on given to them as a gift. Learn More.