The Fortress Investment Group is the leading private equity firms in the United States today. The company was founded in 1998 by three visionary entrepreneurs who realized that they should be investing in a company that would assist entrepreneurs and business people with managing their assets. Wesley Edens, Rob Kauffman, and Randal Nardone all share the same experiences working with a financial institution, and through the years of working for financial giants, they realized that they could be earning more if they will build their own company. They left their jobs and focused on managing their business, which became a hit a few years after it was established. The company grew at a fast rate, and by the year 2000, they are already managing hundreds of millions of assets. In 2002, Peter Briger joined the team, sharing his expertise in the world of financial management and business.
The Fortress Investment Company started to explore different business ventures that would help in making the company a successful private equity firm. In 2007, the founders of the company had an idea to offer the firm to the public, and they debuted in February 2007 at the New York Stock Exchange. More than 8% of the company was traded to the public, and the transaction is worth $600 million. The offering of the company to the public marked a new page in the history of the Fortress Investment Group. In 2008, the global recession began, and the Fortress Investment Group generated a plan that would save them from the effects of the economic meltdown. They managed to execute the plan effectively, and the company experienced growth during the turbulent years, opposite to what their competitors have experienced.
Business institutions have awarded the company because of their remarkable strategies in facing the global recession. By 2010, the company started to team up with the government of Vancouver to create the Olympic Village. The government of Vancouver had to search for an alternative financier because their initial partner backed out. The Olympic Village was later turned over to the company, and it was added to their list of assets. Today, the Fortress Investment Group is celebrating its 20th founding anniversary. The company is now managing assets with a combined worth of $65 billion. The company has also been under the supervision of the Softbank Group, a Japanese conglomerate. The Softbank Group purchased the company for $3.3 billion, with the founders retaining their positions inside the company.