Fortress Investment Group is an investment company formed in 1998. The founders were Wesley R. Edens who worked as a partner at BlackRock Financial Management, Rob Kaufman who is a business and also is a managing director of UBS and Randal A. Nardone who worked as the co-manager at UBS. The three founders were a perfect match and worked tirelessly from scratch lifting the company to its current status. They had all the knowledge and skills in business which they had acquired from working from other companies.
Soon Fortress Investment Group got involved in various businesses such as hedge funds, real estate related investments and debt securities which Michael Novogratz and Pete Briger where given to take care of. The two were partners who worked at Goldman Sachs. In the period between 1999 to 2006, the company grew tremendously and then private equity funds were rated to have a net worth of 39.7%. It soon became the biggest private equity company in the United States and went public.
By February 2007, Fortress investment Group got a chance to launch at NYSE together with Gold Sachs and Lehman Brothers. In addition to that, the company also acquired Logan Circles Partners in 2010. In 2014, due to the efforts put by the company’s team, the company saw its breakthrough when it was named the “Hedge Fund Manager of the year”. In addition to that, it was also named “Management Firm of the Year”. Fortress Investment Group also received a lot of credits from Institutional Investors and they named it as the “Macro-Focused Hedge Fund of the year”.
Still, in the same year, the company hired the former Global Head of Foreign Exchange Jeff Feig to join Novogratz where he was given the co-CIO rank at Fortress Macro Funds. Despite being faced with many challenges, the investment company survived it all and by 2016, it had four important business running which summed up to nearly $70.2 billion in assets which were under management. These assets included private equity, credit liquid markets, and traditional assets. Fortress Investment Group is an exemplary company which has been successful in business. Fortress Investment Group Partners with iPass to the Tune of $20M in Credit
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