1998 was the year when a private equity firm which goes by the name Fortress Investment Group was erected, and it became the first private firm to be involved in the New York Stock Exchange. The rate in which it has been developing has seen it being an international asset management organization that manages assets that are worth more than $43 billion which comes from over 1750 investors. The various forms of investment that it is involved in include; private equity, motor vehicles, permanent capital, and hedge funds. Also, its first headquarters were built in New York City with a capacity of 900 employees under its roof. In setting up Fortress, various individual teamed up to make the exercise successful that is Wes Edens and his colleagues both Randal Nardone and Rob Kauffman who resolved to work jointly.
Fortress Investment Group involves itself in various areas of expertise such as Operational management, Acquisitions, capital markets, and Commercial Merger. Also, the firm has a pool of knowledge and skills in financing, managing, pricing of the physical and commercial assets issues. Before founding Fortress Investment Group, its founder served previously in several financial institutions and playing different roles, and such firms include; UBS, Goldman Sachs, Lehman Brothers, and BlackRock financial management firm. While in the organizations, they acquired a vast amount of experience as well as tactic to handle various issues that arise in the financial Industry and came along with them in Fortress Investment Group.
At the moment, Randal Nardone and Wes Edens are the principals of Fortress Group while other co-founders have already left or retired such the like of Rob Kauffman. Under their stewardship, it has experienced exponential growth regarding customers and assets to the extent of being recognized worldwide. It was also approximated that its private equity assets have grown by forty percent from 1999 to 2006. In addition to the same period, it launched the Fortress Investment Fund 1.
The hard-earned reputation of the principals of Fortress Investment Group has gone a long way in ensuring that the organization commands a significant level of respect in the industry. This respect comes not only from the competing companies but also the investors who have trusted the organization to plan and manage their wealth on their behalf. These comprise a large number of clients who come from different parts of the world, both individually and as institutions. The main service that they seek from Fortress Group is investment management.