The Fortress Investment Group is one of the largest private equity firms operating in the United States today. The company was established by three visionary entrepreneurs, who are based in New York and San Francisco. One of the founders of the Fortress Investment Group is Peter Briger, who was born and raised in San Francisco. He attended some of the most prestigious schools in the United States, including the Princeton University and the University Of Pennsylvania – Wharton School of Business. Right after he graduated from the university, he decided to travel all across the United States and looked for a place where he could work.
Peter Briger started his career working with financial companies, and he was able to develop skills and expertise that would allow him to gain promotions in his chosen field. During his stint as a financial partner under the BlackRock Asset Investors, he met Randal Nardone and Wesley Edens, who are from New York. The three became close friends, and they had an idea of creating their own company from scratch. The three brainstormed on what kind of business they should establish, and according to Peter Briger, they should start a business that would focus on business and finance because it would yield the most profit. The three also decided to resign from BlackRock Asset Investors before they established their company.
Right after the founders have set everything in place, the Fortress Investment Group came to be. The company was founded in 1998, and it experienced tremendous growth in a short span of time. Years after the company’s establishment, the number of assets that they are managing keeps on increasing, and in the present, around $60 billion to $70 billion worth of assets are being handled by the Fortress Investment Group.
In 2007, Peter Briger and his colleagues thought about introducing an IPO that would benefit the company. It was later on revealed at the New York Stock Exchange, and shares were offered to the public. Peter Briger is the one who decided upon the idea, and it helped the company to become a stronger and formidable one. The stocks and shares that they offered to the public accounted for more than 8% of the company, or at a value of $600 million. The selling of the company shares to the public also helped them get through the disastrous recession which paralyzed American economy in 2008.
to Learn More Click Here