Joe Fagan

Former Soccer Star, Now Soccer Fan


August 11, 2019

Distressed Assets Strategist Peter Briger

In the earlier years of his career in the financial industry, Peter Briger worked at Goldman, Sachs and Company, becoming a Partner in the business in 1996, then going on to co-found its Special Situations Group, a venture that is considered to be one of the main reasons for increasing the company’s annual revenue over the last decade. After staying with Goldman, Sachs and Company for 15 years, he moved on to an executive position at Fortress Investment Group in 2002. At Fortress, he became the manager of its Credit and Real Estate division, and by November of 2006, he became the Principal at the company, and was later elected as its Co-Chairman in August 2009.

Peter Briger built his financial security by focusing on the type of assets that are not desirable to other investors, with his biggest interest being in distressed debt. In an interview with Institutional Investors, the financial strategist referred to his business as the financial services garbage collection, explaining that when regulatory changes force banks to sell non-performing or risky assets, Fortress doesn’t hesitate to buy them at a huge discount. He uses the buy low, sell high method to keep increasing his bottom line. See more on Wikipedia.

Since he’s been employed at Fortress Investment Group, Peter Briger has raised more than $4 billion for the company’s Credit Opps Fund IV. The company was founded in 1998 by partners Wes Edens, Rob Kauffman and Randal Nardon, and it specializes in asset management, as well as corporate mergers and acquisitions. It was the country’s first private equity firm to be traded on the New York Stock Exchange after it was launched in 2007, which is the same year that Peter Briger made the Forbes Billionaire List.

The financial executive attended Princeton University and graduated with a Bachelor’s degree in Business Administration, and he later earned an MBA from the Wharton School of Business at the University of Pennsylvania. He is a board member of Tipping Point, a non-profit organization that is focused on low-income families in the San Francisco area, and of a college-prep charter schools network called Caliber Schools. Connect: https://www.linkedin.com/in/peterbriger