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.
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.