Fortress Investment Group was established in 1998 by three partners namely Rob Kauffman, Randal Nardone and Wes Edens. Fortress company is a transnational investment management organization the controls over $43 billion worth of assets for over 1750 investors in hedge funds, permanent capital vehicles, and private equity. The main areas of expertise for the company include sector-specific knowledge of institutions and organizations, capital market, corporate mergers and acquisition, operations management, and asset-based investment. For the last two decades that the company has been in existence, Fortress Investment Group has grown into expertise in supervising mergers and acquisitions.
The team at the company know as well as having a close relationship with management personnel, corporate board members including other corporate stakeholders. Thus, these relationships have helped the staff at Fortress to gain knowledge about the corporate world. In addition to this, the Fortress Investment Group has substantial expertise in securing financing through equity and debt markets. Fortress Investment Group has had an excellent long record on managing portfolio organizations which have earned the company some significant institutional knowledge about a broad variety of industries. The workers at fortress have extensive sector-specific experience that is international in scope. Randal Nardone and Wes Edens are still the company principals as well as co-founders.
Before founding the Fortress Investment Group, the three principals were formerly working at Goldman Sachs, Lehman Brothers, UBS and BlackRock Financial Management.The company had a goal of coming up with a different investment company, an ‘alternative-asset’ approach that brought up private equity and invested it into cutting-edge vehicles. In addition to this, over the past five years, the company’s asset under management grew from $400 million to around $3.9 billion. Edens and Nardone are still active principals of the company. Michael Novogratz joined the fortress from Goldman Sachs to become the company’s fund manager. However, he did not stay long before he left to do his businesses. Peter Briger also joined the company to become one of the principals, a position that he still holds at the company. Fortress made a lot of significant acquisition in 2006-2007 including RailAmerica, Penn National Gaming, and many others.