The First Public Trading Of Fortress Investment Group

Fortress Investment Group is an asset management company that was established in 1998 via the teaming up of several colleagues that is Randal Nardone, Wes Edens and Rob Kauffman who made your mind up to work together as a team. At that time its headquarters were in New York City but, in 2014 several offices were set up in the different region like in San Francisco, Singapore, Shanghai and two in Asia. 2007 was the year when it was launched in the Stock Exchange Market of New York City, and also it became the first private equity firm to be involved in public trading in the United States.

It was approximated that Fortress Investment Group to be managing more than $70.2 billion alternative assets, and since 1999 to 2006 it has been experiencing exponential growth of about 40 percent in the form of private equity. It, therefore, began to be involved in real estate investment, credit securities, and hedge funds management under the management of Michael Novogratz and Peter Bridger. The two of them were former partners of Goldman Sachs’, and Michael was a big boost to its leadership.

Due to Fortress Investment Group’s good image and excellent reputation globally, it was awarded in several occasions, and such scenarios are; Credit Fund of the year 2010 and 2011 and Hedge Fund of the year 2012. Also, it was named as the Management Firm and Hedge Fund Manager of the year 2014 by both Institutional Investors and HFMWeek. Jeff Feig who previously worked at Citigroup as the global foreign exchange head joined Fortress in 2014 and he serves as the co-CIO of its Macro Fund. This outstanding performance by Fortress Investment Group cannot be attributed to a single individual. It is as a result of the combined efforts of all the organization’s personnel.

Finally, Fortress Investment Group has core business under its roof while managing its assets and they include; liquid markets, credit, and private equity. 2006 was the year when it purchased the largest Canadian Intrawest ski resort operator in North America. In the same period they contracted with RailAmerica, Inc. for an acquisition agreement and the transactions were completed in February 2007. Later on, they sold it through a public offer. Fortress has traded publicly with several portfolio firms such as RailAmerica, Inc., Aircastle Ltd and Brookdale Senior Living Inc. Also, Fortress being the parent company of Mystays hotels and resorts in Japan makes them its property.

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