The business Fortress Investment Group LLC is a subsidiary of the SoftBank Group. It was established 20 years ago in 1998 by co-founder Wesley R. Edes who is also the Co-Chairman of the board and Principal of the company. The other founders are Randal Nardone and Rob Kauffman.
The Fortress Investment Group is operating in the investment management. The firm offers credit, private equity services, traditional asset management, as well as liquid market services, to name a few. The business has grown significantly amounting to 2 533 employees as of 2016. It also has a number of subsidiaries such as the New Media Investment Group, Railroad Acquisition Holdings, and many others.
On top of the Fortnerss Investmet Group LLC is the Chief Executive Officer Randal A. Nardone. All three of the co-founders have had extensive experience in finance and business. Mr. Wesley R. Edens used to work at the BlackRck Fnancial Mnagement Inc. as a Partner. Mr. Robert Kauffman worked in the business sector as the Managing Director of the UBS as well as Mr. Randal A. Nardone who was occupying the same position at that company.
The Fortress Investment Group LLC expanded steadily and started operating in hedge funds as well as investments in the real estate business and debt securities. Between the year of founding and 2006, the Fortress Invesmtent Group LLC achieved a growth in its private equity funds by 39.7 percent. It went on to launch the NYSE a year later, being the first private equity group of such proportions in the United States of America, and lacrosse camp Fortress Investment Group.
The Fortress Investment Group LLC was purchased by its current parent company at the end of last year. SoftBank Group Corp. paid $3. 3 million for the business. The Soft Bank Group Corp announced its desire to purchase the company all the way back at the start of February in 2017. The corporation had been observing the progress of the Fortress Investment Group for quite a while and had seen its achievements and believes in its vast potential in its line of work.
The management portfolio of the Fortress Investment Grup LLC is rather extensive. In 2006, the company started managing the Intrawest and acquired the Canadian ski resort operator. Other companies that the Fortress Investment Group has worked with over the years include the Rail America Inc., Florida East Coast Industries, Ceterbrisge Partners, Penn National Gaming, Aircastle Ltd. and much other business as well. The Fortres Investment Group LLC has provided its services to businesses of various sizes and markets such as real estate, retail, catering, hospitality, e-commerce, and so on.
In 2014, the corporation had the winning bid and acquired a few other assets and later in the year the company had also purchased the retail center called Inverness Corner as well. In the future, the Fortress Investment Group LLC is planning on continuing to expand across the United States of America. The company has plans for developing its line of service as well as its management portfolio. It will be announcing the detail later this year, and https://www.bloomberg.com/news/articles/2017-02-14/fortress-shares-jump-27-on-report-softbank-nearing-buyout.