It is considered as one of the leading alternative investment management organizations not only in the United States of America but also across the world. Fortress Investment Group has their Headquarters located in New York. The firm was established in 1998 as a private equity firm. The group was co-founded by three individuals who were passionate about finance and had the desire to help others in the sector. Randal Nardone, Wesley R. Edens, and Rob Kauffman are the founders of Fortress Investment Group. The founders pride themselves in being leaders of the first private equity organization in the United States to list in the New York Stock Exchange Market.Ever since the establishment of the alternative company it has been expanding, and as of 2016, it was managing about $70.2 billion alternative assets in the form of liquid hedge fund, credit funds, as well as private equity.
Fortress Investment Group has a team of leaders who are experienced in the financial sector, and they have assisted with the success of the company. In 2008 when the nation was experiencing an economic downturn, the alternative asset manager was able to survive the Great Recession. Since the inception of the firm, they have been serving a broad range of clients ranging from private investors as well as institutions. Some of the services that they have been delivering to their customers include permanent capital investment plans, credit, real estate, and private equity.Recently the largest alternative firm was acquired by SoftBank Group Corp. The financial group announced that it had purchased Fortress Investment Group for $3.3billion in cash. SoftBank Group Corp wholly owned the organization, and the Fortress A shares were converted, and the shareholders were to receive $8.08 in cash.
Fortress Investment Group’s shares no longer trade in the New York Stock Exchange, the financial results will be consolidated, and they will reflect on the SoftBank Group financial statement as Investment management company is delisted from the New York Stock Exchange Market.Before being acquired by SoftBank Group Corp, Fortress Investment was recognized on several occasions, and in 2014 it was named as the Hedge Fund Manager of the Year an award presented by Institutional Investment, as well as by the HFMweek as the management firm of the year. In 2012 the Institutional Investor again recognized the Group as the Discretionary Macro-Focused Hedge Fund of the Year. Under SoftBank, Group Fortress has continued to deliver efficient services and products to their clients.