20 Years Later the Fortress Investment Group Still Stands Strong

When Wesley R. Edens, Randal Nardone, and Rob Kauffman joined hands in 1998 to start an alternative asset management firm, they may have hoped to achieve a certain level of success, but may never have visualized what the Fortress Investment Group would grow into and the same time propel them to the top of the food chain. The three all had a level of understanding of what made a good asset management company with two Randal Nardone and Rob Kauffman having come from UBS where they were managing directors and Wesley R. Edens, having worked at BlackRock financial management.

They all had over 40 years’ worth of combined experience and we’re determined to replicate the success they had achieved in their respective careers working for other organizations in their own Fortress Investment Group. The group would begin with about four hundred million dollars assets under management. The three were each assigned an area to focus on and soon the group had diversified into the hedge fund industry, debt security, and real estate. This was all happening rapidly, and the three partners realized a need to bring in more talent to help sustain this growth. Fortress Investment Group being as daring as ever went all out and brought in Peter Briger and Michael Novogratz from Goldman Sachs.

The two would be tasked with establishing the Credit business for the Fortress Investment Group. Peter Briger having specialized in this line of work for almost his entire career took on the challenge with zest, and by 2006 the division was up and running and was contributing significantly to the group’s bottom line. The Growth of Fortress from this point on would be nothing short of epic as it listed on the NYSE the following year and soon its shares rose an incredible 76 percent with the first few months. This would propel the founders to billionaire status and give their initial idea credibility. In 2017 the Fortress were acquired by Softbank in a deal estimated to be worth 3.3 Billion dollars this would return the company to its earlier private status despite it managing a number of publicly listed companies that help contribute to a large part of its revenue.

Meet Wes Edens With His Amazing History Of Success In The Financial Sector

Wes Edens is a business entrepreneur who was born in 1961 in the New York City. He is amongst the five co-founders of the Fortress Investment Group and as well as the company’s chairperson in the board of directors. The company was established in 1998 with aims of making investments using their investor’s assets. It mainly deals with the management of assets worth $ 54.6 billion which are owned by a total of 1750 clients. These investments tend to make huge returns for the company since most of the investor’s assets comprise of real estate properties. For years now the company has developed long-term relationships with their clients, and this has impacted on the fast growth of the company. Wes Edens has a remarkable history of continuous success in his career as a financial specialist. His first job as a financial expert was at Lehman Brothers whereby he was promoted up to the position of a managing director for his incredible performances in the company. He has also operated as a partner for the investment company.

However, in 1993, Wes Edens left his job and decided to join Blackrock Financial Management Inc. a famously known financial company in the country. He also played a directorial role just like in his former company until his resignation in 1997. In 1998, he accompanied the other four founders of the Fortress Investment Group in its establishment. These other founders are Peter Briger, Randal Nardone, Robert Kaufmann, and Mike Novogratz. Wes Edens has proved the possibility of success in the financial sector to many through his significant achievements in Fortress Investment Group. Mr Edens believes in teamwork and therefore embraces coordination of all parties in their duty performances in the company.

This has positively contributed to the growth of the corporation and hence expanding its operations among its clients.In the recent billionaire’s list compiled by Forbes, Wes Edens is reported to be in ownership of assets and properties worth $ 54.4 million. He also earns enormous amounts as dividends from his 63.3 million shares in the Fortress Investment Group.Sometimes it could be unbelievable how some individuals try to stand out and work out things correctly that seem to be impossible among others. This is also the case with Wes’ incredible efforts and successful accomplishments in the financial sector, an industry that happens to bear uncountable challenges according to other experts. Other businesspersons should thus get encouraged and act differently in living their business dreams.

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

Randal Nardone Brings a Positive Outlook to Investing

Randal Nardone always works to give people a chance at the right investments. He took a risk when starting Fortress Investment Group, but that meant he got the excellent reward that came from taking a great risk. It was his idea to start a company that would see great success in the future and everything he did goes back to the hard work he put into the business. It was his goal to always give clients the help they needed. Randal Nardone spent time training those who were working in the business so they could make more money and give the people the options they needed. For Randal Nardone, the business keeps getting better. He knows what he’s doing and isn’t afraid to give people the chance they need to see a lot of successful trades in their future.

The stocks will keep getting better and people will keep using them to trade the right way. Randal Nardone knows it is necessary to always make things better for everyone he works with. By coming up with new plans and always making people understand how important investments are, Randal Nardone gives them a chance to do better. Despite some of the issues that come from investing and some of the things Randal Nardone can do to make investments work on his own, he knows there are things that people will do with Fortress Investment Group that will not work. He always planned on helping these people by showing them how they can recover from the poor investments they make. He uses his own past mistakes as an example of what they can do to fix problems.

He made a lot of mistakes in the beginning, but they paid off by helping him now. He is more successful because of them.While Randal Nardone is a billionaire, he still works with the company. The success Fortress Investment Group has had throughout the time they’ve been operating further contributed to Randal Nardone’s wealth. He knew how to make more money and try other things that would help him be successful. As long as Randal Nardone knew how to give people attention, he felt there were chances he could make more money. He often took those chances and they paid off. Randal Nardone made money and became extremely successful because of his dedication to the business and the clients he served through Fortress Investment Group.

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