Fortress Investment Group is an investment company which was founded by Randal Nardone twenty years ago. Some of the company’s co-founders are R. Edens who is the principle and chairman of the board of directors and Peter L. Briger who is the principle and co-chairman of the board of directors. The founders were well experienced in the financial field and were more than capable to steer the company forward. The firm is located in New York City with its headquarters at 1345 Avenue of America’s New York City, United States.
Fortress Investment Group was launched on NYSE on 9th February 2007 where it was named as the first huge private equity firm to go public in terms of trade. Still, in the same year, the net income of the company was estimated to $32.9 million. By 2016, the company’s revenue was rated to $1.1 billion and its net income $180 million. With the data, it is evident that the company has been doing well over the past years. In 1999, Fortress Investment Group managed to launch the first investment fund.
Previously, the company was involved in the real estate investment field but from the launch of the investment fund, it became a success and made the private equity funds to shoot to about 40% by 2006. When Nardone and Edens were busy running the affairs of the company, Kauffman who is also a co-founder of the company decided to venture into car racing where he managed to buy 50% stake in Michael Waltrip Racing. He later launched RK motors Charlotte and currently partly owns Chip Ganassi Racing. Currently, Fortress Investment Group has an estimated worth of $43 billion of assets. These assets are derived from 1750 private equity inventors, permanent capital vehicles and hedge funds. The company also provides employment opportunities to over 900 people in New York City.
For details: www.fortress.com/about