Fortress Investment Group is a leading alternative asset management company based in New York, that specializes in private and equity and credit funds. The company was established in 1998 and operates as a private company currently operating over $41.4 billion worth of assets for more than 1750 private and institutional investors. Fortress Investment Group has 915 asset management employees, including 205 investment professionals spread out globally. Fortress group is now a leader in the alternative investment field, with more and more established companies and individuals joining its investment fold.
Fortress invests in several industries such as gaming, real estate, leisure, media, telecommunications, and power, transport and healthcare facilities. The company also invests in undervalued assets and distressed companies, where it takes up full control, or gains majority stake. Fortress has a deep understanding of the industries it invests in, often working in collaboration with the existing board of directors and management to execute new investment strategies.
SoftBank Group Corp recently acquired Fortress Investment Group. The $3.3 billion acquisition meant that Fortress would continue to operate independently under Soft Bank. Soft Bank Group now owns all shares, in including subsidiary ones belonging to Fortress. Each Fortress class A share was converted to $8.08 in cash, and the company’s common share has since ceased trading and has been delisted from the New York Stock Exchange. Their LinkedIn Profile.
The management team, comprising of Peter Briger, Wes Edens, and Randy Nardone continues to lead the company. Softbank, on the other hand, will maintain the group’s leadership, brand, business model, and culture that have led to Fortress’s success. Some of the group’s latest activities include the acquisition of Tiffany & Co. Building on 259, Worth Avenue for $20 million. The sale was initially marked at $40 million, and even after selling for half the price, it remains as one of the most expensive retail outlets.
Fortress Investment Group is also involved in charitable activities. On the 18th of October, Help For Children hosted the second annual HFC Rocks to raise funds aimed at fighting child abuse. Fortress Investment Group joined other alternative asset management companies in enjoying a night of live music to support children within the New York Metropolitan area.