From its inauguration back in the year 1998 as a private organization, Fortress Investment Group has been doing well. This is witnessed by its 2007 IPO. This is the first private equity firm to be listed on the New York stock exchange.
As we speak, this group has diversified its operations all over the world. It has more than $ 45 billion worth of assets, more than 1800 investments in equity, hedge funds, and permanent capital vehicles. Its headquarters is located in New York and it has more than nine hundred and fifty employees.
Fortress Investment Group was founded by Wes Edens who is the current principal, Randal Nardone who is also a current principal and Rob Kauffman who retired in the year 2012. These great men brought in financial and accounting experience from various positions at Black Rock Financial Management, UBS, Lehman Brothers, and Goldman Sachs.
The aim of Wes Edens and his colleagues was to create a new and modern investment firm. Under their management, the firm’s assets have grown from $ 450 million to almost $ 4 billion over a period of five years.
The management’s firm launched their first investment vehicle, that is the Fortress Investment Fund 1 back in the year 1999. Initially, they invested in the real estate sector including the Toronto Markets and the New York. The firm expanded very quickly into hedge funds and debt securities.
Wes Edens and Nardone are deeply being involved in the management of Fortress Investment Group. Kauffman retired after 15 years of partnership to venture into the private business of car racing.
Wes Edens is a famous entrepreneur in the world today. His focus and creativity have led him to partner with Nassef Sawiris of Egypt to buy shares in Aston Villa. A Chinese businessman Tony Xia who bought Aston Villa back in 2016, will continue to be on board and a co-chairman to Wes Edens.
In conclusion, the majority of the English teams have been acquired by wealthy people in the last few years. manchester united was taken over by Glazer family, Chelsea by a Russian billionaire Abramovich and Liverpool by Boston Red Baseball Team.