The need for investment manager has been increasing in the past couple of decades. It has lead to numerous investment management firms surfacing in the past few years, one of the biggest of which is the Fortress Investment Group. The company has not only provided excellent results to its institutional and private clients but has also made a global presence by setting up regional offices at critical commercial hubs. Fortress Investment Group was founded in the year 1998 by three of the most critical finance and business executives, Randal Nardone, Wesley Edens, and Rob Kauffmann. With the collective experience of few decades between them of working in the finance sector at Wall Street, they managed to make Fortress Investment Group one of the most prominent investment managers in the United States in a brief period.The consistent performance of Fortress Investment Group is what has helped the company to stay on the top of the investment management field.
It is this consistency in performance and top customer service that it provides that has attracted many acquisitions offers from other financial giants in the past few years. One of the companies that approached Fortress Investment Group for the takeover was Softbank Group Corp, which finally took over the company recently for $3.3 billion. As per the agreement, after the transfer of the sum of cash, all the shares of Fortress Investment Group would be owned wholly by Softbank Group Corp. Softbank is a Japan-based financial giant and has been looking to consolidate its international holdings, and buy out of Fortress Investment Group is a part of its global expansion strategy. Fortress Investment Group has been one of the most successful private equity firms in the United States, and it came into the eyes of the global investors when it was able to successfully come out of the brink of bankruptcy after the economic recession in 2008.
Fortress Investment Group also made into the limelight during the Winter 2010 Olympics held in Canada, when it refused to finance further the Millennium Development Group that was primarily responsible for the development of Olympic Village.It almost could have halted the Olympic Games to continue, but the City of Vancouver took over the responsibility of financing the project as per the instruction of State of BC. After the Olympics were completed, Fortress Investment Group took over as the owner of the Olympic Village. The company has made diversified investments in alternative assets, real estate, credit funds, hedge funds, and more. The diversified nature of its investment strategy, as well as the wide range of services the company provides, has helped Fortress Investment Group to become one of the leading financial institutions in the world. Fortress Investment Group is also amongst the top employers in the United States as per the feedback is given by hundreds of employees on the internet. The company doesn’t only have some of the best allowance packages for its employees but also holds various training and personality development seminars for its employees.