Peter L. Briger Jr.’s immaculate career began after he earned his B.A. from Princeton University in 1986 and his MBA from the University of Pennsylvania’s Wharton School of Business. His peers and anyone who knew Peter immediately realized his potential, which is why in 1987 right after graduated from Wharton Goldman Sachs was quick to hire the young prodigy. After 15 incredible years at Goldman Sachs where he became a partner in 1996, Peter Briger joined Fortress. He is currently the Principal and Co-Chairman of the Board of Directors and is solely responsible for the oversight of Fortress’s Real Estate division and Credit business. He is responsible for over 300 employees who he mentors and trains.
As an avid philanthropist and active member of several charitable organizations, peter Briger strives to make his local community and the world a better place for his children and generations to come. He is on the board of San Francisco’s non-profit organization, Tipping Point and also serves on the board of Princeton University’s Investment Company, Hospital for Special Surgery and the Global Fund for Children. He has personally invested more than $600 million in the Central Park Conservancy organization. Fortress Investment Group manages over $70 billion in assets and is the first private equity firm to be publicly traded on the New York Stock Exchange. Peter Briger’s determination to succeed has earned him a place on the Forbes Billionaires List. He is on the Forbes 400 top Business Professionals Worldwide list as well. The vast knowledge and experience he gained at Goldman Sachs and his intense business acumen make for an incredibly powerful force to be reckoned with.
Every project Mr. Briger takes on becomes a grand success. His role as an investment leader at Goldman Sachs and his rise to the top of Fortress Investment Group is proof that the top-notch financial professional is a titan in the world of investments. His passion and drive for success as a professional and as a human being has led to his invaluable input in charitable causes such as, helping children who are less advantaged and attempting to alleviate the most poverty stricken areas of America. It is with sheer determination and individuals like Peter Briger jr. that America will become great again. Individuals who have the means to help others should put there whole hearted attention and time into this very cause. Peter Briger is one such individual who I believe is the right man for Fortress and every charitable and non-profit organization he is a part of. With Peter at the helm every endeavor will seem possible.
Having begun as a tiny investment management entity, Fortress Investment Group has over the past two decades demonstrated incredible growth that has not been experienced by any other investment manager globally. The firm was started by its three founders; Randal Nardone, Rob Kauffman, and Wes Edens, back in 1998. It started as a private equity fund, having only a meager $400 million in assets under management. The principal idea in the minds of the three founders was to invent a new type of firm that would consolidate funds from private equity and subsequently invest the fund in cutting-edge investment vehicles.
Immediately after its foundation, Fortress Investment Group underwent a very vigorous growth that saw its managed assets shoot to $3.9 billion within the five years of operations and further to $32 billion by 2007. This tremendous growth had come as a result of some core competencies that propels the company and keep it moving. One of the key competencies unique to Fortress group is the expertise it has in mergers in acquisitions. The company’s personnel have a very sound understanding of the market and have established professional relationships with key stakeholders of various organizations. This aspect assists Fortress to effectively manage their M&As and consequently benefit from them.
For instance, during the period between 2006 and 2007, Fortress Investment Group acquired several key organizations. These include Intrawest, a Canadian company that operated the largest ski resort in North America. Fortress also purchased Florida East Coast Industries (which owned Florida East Coast Railway), Penn National Gaming (which operated casinos and horse racing venues) and also RailAmerica.In 2010, Fortress Group went ahead to purchase AIG’s American General Financial Services, which later changed to Springleaf Financial Services. One amazing fact about this acquisition is that after the transaction, the value of the acquired property skyrocketed under Fortress’s umbrella, to $3.5 billion, what was 27 times its original value.
About Fortress Group
Fortress currently has divided its operations into three main segments; credit, permanent capital vehicles and private equity. It valued at $43.6 billion in assets under management. Originally, the headquarters of the firm were situated in New York. However, due to its expanding nature, it has established three more headquarters, one in San Francisco, in Singapore and the last one in Shanghai. It has also increased the number of its employees to 1,100 so that it can effectively manage its operations. Indisputably, Fortress Investment Group is the investment industry lion.
Wes Edens is a Fortress Investment Group principal and the Bucks basketball team owner.Wes Edens is a renowned philanthropist and a private investor. In the year 2014, he joined hands with the Moroccan Marc Lasry to purchase the Bucks basketball team from Herb Kohl at $550 million.They invested a further $100 million in a multipurpose arena, the arena would not only be Buck’s home ground but would also host drama and musical concerts. He obtained his Bachelors in Finance and Business Administration from Oregon State University in the year 1984. He began his career at Lehman Brothers as a partner and a managing director. He later moved to BlackRock’s private equity division and worked as an associate and an MD before leaving the firm in the year 1997.
With his extensive knowledge and skills in private equity, Wes Edens partnered with Michael Edward, Randal Nardone, and Robert Kauffman to found the Fortress Investment Group. The firm is a private equity company that deals with asset management. He was appointed the Co-Chairman of the Board of Directors at Fortress in 2009. The fact that he had gained extensive knowledge and expertise in equity business meant that he was the right man to handle Fortress’s private equity business.He was also the brains behind the purchase of subprime lender, Springleaf Financial Services by Fortress Investment Group. The buy out made the firm Springleaf’s majority stakeholder, and by the closing of 2015, the value of Springleaf had skyrocketed to over $3.5 billion.
According to BizJournals, Wes Edens’ annual earnings stand at $54.4 million. This is in the inclusion of his annual compensation from FGI of about $13.4 million and a further $41 million in dividends.He also takes home almost $1.1 million in stock awards, an $11.6 million in bonuses, a $200,000 salary and $478400 in other compensations. In January 2018, a deal was struck between Fortress Investment group and Japan’s SoftBank Group Corporation.The former would buy Fortress at the cost of $3.3 billion in cash. Fortress would, however, retain its headquarters in New York. Wes Edens also secured his leadership role together with Randal Nardone in a five-year deal.Considering that FGI had been started with a $400 million in 1998, this was an excellent deal. Today, he is married to Lynn Edens and together they have four children. He is widely known for his charity work and donates mainly to health, education, and art.
Randal Nardone went to the University of Connecticut where he studied Art and science; he also went to Boston University where he studied Biology, English, and Law respectively. He first worked at Thacher Proffitt and wood; he later went to BlackRock financial and UBS. In 1998, Randal Nardone joined Fortress Investment Group as a manager.
Randal Nardone is currently number five hundred and fifty-seven on the Forbes list of billionaires in the world. Through his experience in the finance industry and knowing the law industry, he has been able to beat the competition. Currently, he is the Chief executive officer at Fortress.
He is a board member of Eurocastle’s board of directors, Randal Nardone is also a board member of Fortress Investment limited. He boarded BlackRock Company when he was working there and the USB. He became CEO in 2013.
Employees and former employees have gained experience when working with Fortress and have had a great relationship with Randal Nardone who guides them on how to perform their duties effectively. The company can deliver their services in a fast manner and therefore, it’s able to meet many customer’s needs. Nardone has mentored many business people who want to invest in various businesses; he helps them understand what business is and how to follow government regulations once the company starts running. He is a great team leader, which is evident with the employees he has worked with and has grown to be managers in their respective fields and more
Through his wisdom and knowledge in both law and financial business, he has managed to earn Fortress forty-three point six billion dollars as per December 2017. It manages assets for more than one thousand seven hundred and fifty financial institutions both public and private sectors. Fortress also merges corporate institutions and even acquisitions. It has the technical knowledge and also the capital market; this enables the company to offer loans to its members and security assets at the same time.
Softbank purchased Fortress Investment bank at three point three billion dollars. However, the status of its three Managers remains the same. Nothing has changed about the company, and the managers including Randy have said they will continue offering the best services needed to their clients. Nardone is married with one child; he is worth one point eight billion dollars by 2011. He continues with his skill in financial management.
The French Tribue ha put out another article that is telling the people who read the stuff about a business that is one of the best in the world. The CEO over at Equities First Financial Holdings is known as one of the best CEOs out since he is constantly wheeling and dealing and trying to make the best moves in order for the company to be profitable. What he s known for doing is making partnerships that will expand the reach of the company and allow them to be a far more portable and stronger company. The main goal of the CEO is for the company, Equities First Finca Holdings, to be one of the best financial companies out. They will give all of their customers the best guidance and advice possible. The business started in the early 200s and has since expanded their reach to a point where people are constantly looking to see what is next.