Fortress Investment Group, LLC.
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| Subsidiary | |
| Traded as | : FIG |
| Industry | Investment Management Firm: Private Equity, Credit, Liquid Markets and Traditional Asset Management |
| Founded | 1998 |
| Headquarters |
1345 Avenue of the Americas New York City, United States |
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Key people
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Randal A. Nardone: interim CEO; Wesley R. Edens: Co-Founder, Principal and Co-Chairman of the Board of Directors; Peter L. Briger: Principal and Co-Chairman of the Board of Directors |
| Products | Investment Management Firm: Private Equity, Credit Funds, Railroads, Hedge Funds and Traditional Asset Management |
| Revenue |
 US$1.1 billion (2016) |
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US$180 million USD (2016) |
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Number of employees
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2,533 (2016) |
| Parent | SoftBank Group |
| Subsidiaries |
Nationstar Mortgage Brookdale Senior Living (former) Intrawest Aircastle (partial) RailAmerica (formerly) Railroad Acquisition Holdings Newcastle Investment Corp. (REIT) New Residential Investment Corp. (REIT) New Senior Investment Group (REIT) New Media Investment Group |
| Website | fortress |
Fortress Investment Group is an investment management firm based in New York City. Fortress Investment Group LLC was founded as a private equity firm in 1998 by Wesley R. Edens, Rob Kauffman, and Randal Nardone. When Fortress launched on the NYSE on February 9, 2007, it was the first large private equity firm in the United States to be traded publicly. As of June 30, 2016, the firm managed approximately $70.2 billion alternative assets in private equity, liquid hedge funds and credit funds.
Fortress Investment Group LLC was founded as a private equity firm in 1998 by Wesley R. Edens, a former partner at BlackRock Financial Management, Inc.; Rob Kauffman (businessman), a managing director of UBS; and Randal A. Nardone, also a managing director of UBS. Fortress quickly expanded into hedge funds, real estate-related investments and debt securities, run by Michael Novogratz and Pete Briger, both former partners at Goldman Sachs.
Fortress Investment Group's investments grew rapidly, with its private equity funds netting 39.7% between 1999 and 2006. When Fortress launched on the NYSE on February 9, 2007 with Goldman Sachs and Lehman Brothers underwriting the IPO, it was the first large private equity firm in the United States to be traded publicly. In the wake of the economic downturn of 2008, Forbes included Wesley Edens (and two other Fortress principals) among its "biggest billionaire losers of 2008", noting that Edens had "watched his fortune dwindle as investor redemption soared at the company's flagship fund". Fortress and its principals were subsequently featured in an April 2009 Vanity Fair article on the adverse economic conditions facing hedge funds.
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Wikipedia