Wes Edens, No Stranger To Investment

Wes Edens is Co-Founder of Fortress Investment Group in addition to a sitting member of its seven-member Board of Directors. He was one of five founding partners that formed the private equity firm in 1998. In 2016 it was estimated that Fortressed managed $70.2 billion in assets across its portfolio.

Before co-founding Fortress Investment Group, Wes Edens earned a Bachelor’s of Science at Oregan State University in Financial and Business Administration. In 1987, his career started at Legman Brothers, was a financial services firm based out of New York City. After leaving the firm in 1993, Edens than moved on to work at BlackRock Asset Investors where he was a partner and managing director.

With his education and on the job experience Wes Edens had prepared himself for a career filled with investments and opportunities that would go on to form many successes.

In 2006, Fortress purchased Nationstar Mortage, where Wes Edens would become chairman, for $575 million. Such a purchase provided Fortress with leverage in the home equity market, adding to their growing portfolio of business.

Another success was in 2007 when he and his partners took the firm public. AT the time, a publicly traded private equity firm was unheard of, but when Normura Holdings acquired a 15% stake in the firm Wes Edens and his partners became billionaires. Over the next two years, Fortress would sell an 8% share of the business to the public, which by 2009, amounted to $600 million. That same year is when Edens became a member of the company’s Board of Directors where he was able to pull the firm out of the subprime mortgage crisis.

Leading Fortress’s private equity business, Wes Edens made Fortress a majority stakeholder in the subprime lender Springleaf Financial Services. In 2015, their investment had increased by more than 27x, netting the firm $3.5 billion on an initial investment of $124 million five years prior. Easily considered another successful move by Edens, he received praise from the like of The Wall Street Journal.

Combined, Springleaf and Nationstar allow Edens and Fortress to construct a lucrative private equity business with assets of $14.7 billion.

Edens is also a co-owner of the Wisconsin Bucks, which he purchased for $550 million in 2014. He has built commissioned the construction of a new stadium for the team and has dedicated some of his time to teach players on the team how to better their finances.

Not only did he buy a team, which some could argue as a reasonable investment, but Edens also ensured his team was an all-around success.

In keeping with sports, in 2017, Edens went on to form a League of Legends team called FLyQuest. Also owned in part by Fortress, in 2016 the team took part in the North American League Championship Series.

Through and through, Wes Edens is a man who does not follow the pack but leads it. He obtained wealth in various capacities including a globally successful business, two national teams, and a family.

Wes Edens’s Facebook Page: www.facebook.com/public/Wes-Edens

Leave a Reply

Your email address will not be published. Required fields are marked *