How Fortress Investment Group Has Grown Since 1998

Fortress Investment Group was established as a private equity firm in New York, New York in 1998. Its three founders were Rob Kauffman, Wesley R. Edens, and Randal Nardone. This company went public on February 9, 2007. This event made history as it was the very first large firm of its type to ever have an initial public offering. They are in the alternative assets business. The types of assets they hold are private equity, credit funds, and hedge funds.

When Fortress Investment Group was established it quickly became a very successful firm. In its first seven years the private equity funds it managed went up by 39.7% on average each year. In 2014, this company was named by Institutional Investor as their “Hedge Fund of the Year”. In that same year another industry publication, HFMWeek, said it was their “Management Firm of the Year”. They had received similar accolades before this. For instance, Institutional Investor had called Fortress Investment Group their “Discretionary Macro-Focused Hedge Fund of the Year” two years prior.

As of the end of 2017, this company had $43.6 billion in assets under management. They have 1,750 clients including private investors and institutional clients. These clients come from across the United States and around the world. Also as of the end of 2017 they employ 953 people with 216 of the employees being investment professionals. In addition to their New York City base they also have satellite offices around the world.

Fortress Investment Group’s website says that they have five core competencies. These are asset-based, industry knowledge, operations management, corporate mergers and acquisitions, and capital markets. For industry knowledge, for instance, they point out that they have investment professionals who have specialized in specific industries. They have also developed professional relationships with institutions, high net worth individuals, and the top companies in each industry in which they invest.

For the assets under management, $6.5 billion of this is in private equity. $7.8 billion is in permanent capital vehicles. $15.1 billion is in credit private equity while the remaining $8.9 billion is in credit hedge funds. This gives Fortress Investment Group a balanced approach to their investing.

The 2010 Winter Olympic Games were held in Vancouver, British Columbia, Canada. Fortress Investment Group was involved in a number of aspects of these celebrated games. They controlled Whistler Blackcomb, for instance, which was the main skiing site of this Olympic games. They were also involved in the Athlete’s Village that had been built in downtown Vancouver. They were one of the main suppliers of money for this $1 billion project. They were also the owners of Intrawest which they had purchased in 2006. This is a ski resort company headquartered in Canada which owns Whistler.

Employees reviews of working for this company are pretty high with an average of four out of five stars. Pros includes great training and working there as a valuable experience. Another employee says that if you are willing to work hard, learn, and are motivated you will be given higher levels of responsibility.

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