Joe Fagan

Former Soccer Star, Now Soccer Fan


October 19, 2019

Fortress Investment Group: An Adaptable Investment Firm

Being delisted from the New York Stock Exchange is not something that most companies would get. excited about, but so far it has been good news for Fortress Investment Group. The alternative asset management firm was bought by SoftBank at the end of 2017 and has been making business decisions that are more conducive to growing long-term instead of making their shareholders happy. The company has been known for its unique investment decisions since its founding in 1998 by Rob Kauffman, Randal Nardone, and Wes Edens. While Wes Edens and Randal Nardone are still Principals of Fortress Investment Group, Rob Kauffman has left the company to pursue other opportunities and Peter Briger was named Principal.

Peter Briger first joined Fortress Investment Group in 2002 as a member of their Management Committee. He was then named to the Board of Directors in 2006 before being elected to Co-Chairman in 2009. Before Briger began working at Fortress Investment Group he had been with Goldman Sachs for a decade and a half and had been named Partner of the firm since 1996. He graduated in 1996 from Princeton University before attended the Wharton School of Business at the University of Pennsylvania where he earned his MBA. In addition to his positions at FIG, he is part of the Board of Advisors at Center for a New American Security, an Advisory Board Member for CNBC, and a Board Member of Tipping Point Community.

SoftBank was able to complete its purchase of Fortress Investment Group for $3.1 billion but they have allowed the firm to operate essentially independently. SoftBank had expressed an interest in becoming a leader in the world of finance and the purchase of FIG allowed them access to the years of experience that the company has. They are known to be innovators who are well-versed in adapting to changes in the market. The company was private for almost a decade before going public in 2007 with an IPO on the New York Stock Exchange. With the changing regulations and conditions of the market with public companies, being purchased by SoftBank has been a mutually beneficial arrangement.

Learn more about Fortress Investment Group: https://www.fortress.com/contact