The Fortress Investment Group was founded and launched by Wesley R. Edens as a private equity firm in the year 1998. Wesley R. Edens served at the BlackRock Financial Management as a partner to several investors like Randal Nardone and Robb Kauffman.The company applies its skilled expertise and the vast experience in numerous investment strategies like liquid markets, credit, traditional asset management, and private equity. The Fortress Investment organization does this on behalf of a high number of individual customers and average 1500 institutional investors worldwide. Later on, the Fortress firm expanded rapidly. It enlarged into hedge funds and became a real estate investment company. It also dealt with debt securities.
After the expansion of the company, it was managed by Peter Briger and Michael Novogratz who were partners in the Goldman Sachs firm.The Fortress Investment Group is ranked as the most performing and a highly diversified global investment management firm. In the year 2007, February 9, the firm launched on NYSE with Lehman Brothers and Goldman Sachs underwriting the IPO.It was then ranked as the leading private equity company in the united states that was publicly traded. The Institutional Investor and the HFMWeek named the Fortress investment company as a Hedge Fund Manager and management firm of the year respectively in the year 2004.The SoftBank group agreed that in few years’ time it would purchase the Fortress Investment Organization for $3.3 billion. In the year 2010, the Fortress Investment Group was recognized as the leading lender to the Millennium Development Group. The group built the athletes village for hosting the winter Olympics that cost them $875 million that took place in the year 2010.
The company hired Jeff Feig who was the former global head of Foreign Exchange at Citigroup.They appointed him to serve as the co-CIO of the Fortress macro fund by collaborating with Novogratz who was the CIO.In the year 2016, June 30, the firm had four main businesses that were approximated to $70.2 billion of assets under the management.The core businesses included traditional asset management, credit, liquid markets, and private equity.The Fortress managed funds obtained the Canadian ski resort operator. This ski resort is ranked as the most prominent ski operator. The resort had also operated on numerous adventure travel brands like the Kent and Abercrombie. The brand was sold in the year 2016, August.The investment company has several private portfolios like the Area group holdings, Florida East Coast Railway, and the CW Financial Services.