Randal Nardone founded Fortress Investment Group alongside Wes Edens and Rob Kauffman back in 1998. Each of the founders had incredible experience from their times at Lehman Brothers, Goldman Sachs, Black Rock Financial Management and UBS. They wanted to create an alternative asset strategy investment firm and it was immediately popular.
Assets grew rapidly from $400 million to $3.9 billion. This growth happened in just the first five years. Assets were set at $32.6 billion by the year 2007. The first investments were in real estate in the New York and Toronto areas. The group then began to buy up debt securities as well as hedge funds to grow at such an enormous pace.
Along the way, Fortress Investment Group lost one of its founders, Rob Kauffman, to retirement. He decided to chase passion of car racing and bought up a 50% stake in Michael Waltrip Racing. He also restores vintage muscle cars and owns part of Chip Ginassi Racing.
The guys at Fortress Investment Group have been trendsetting since the late 90s. They were the first private equity firm to go public with an IPO in 2007. Today the investment firm owns $43 billion in assets with nearly 2,000 investors. The group is diversified with private equity, hedge funds and permanent capital vehicles.
The firm employs more than 900 people in New York City. The group does so well because of a diversity of assets. Financial vehicles, real estate and capital all come together to produce long-term cash flow.
Fortress Investment Group is continually innovating in order to squeeze out even more value from its highly complex investments. The firm is excellent at evaluating strategic, structural and operational factors when making investments.
The group is now showing off its expertise in mergers and acquisitions. The firm is made up of deeply connected board members, corporate shareholders and management professionals. This diverse management team is ready, willing and able to tackle the intricacies of capital markets.
The group’s team also has a proven track record of managing a wide range of industries. This all stems from an incredibly diverse portfolio of companies.