Fortress Investment Group Began To Expand Into Hedge Funds
Fortress Investment Group might be a big firm based out of New York, but it is not yet clear how they were able to grow their business exponentially over the years. So how did they manage to pull that off? Well, it all began back in 88 when it was first founded by Wes Edens & his two partners, Randal Nardone and Rob Kauffman.
He was not sure if he had what it took to run a company all by himself which is why he got others to help him when needed. So, they started out as a private equity firm, but they soon began to expand into other areas after it became clear that they were doing well.
So, Fortress Investment Group began to expand into hedge funds, real estate and many other aspects of the finance world & this proved to be a smart move as they grew their net worth by more than 40% by the time 2006 rolled around. Of course, they got hit hard by the big crash of 08 but were quickly able to turn things around.
By 2014, Fortress Investment Group went on to earn the title of hedge fund manager of the year & they were proud to accept this new award. For a while, they began to expand by hiring more staff but by 2015, they had to close down one of their funds.
In 2017, they were bought out by soft bank group to the tune of $3.3 billion. Most recently, they opted to increase their bid to buy a Japanese company known as Unizo for $1.6 billion. They knew it was a lot but were confident that it would pay for itself in the long run. Fortress Investment Group now has their new HQ out there in New York.
For details: www.inc.com/profile/Fortress-Investment-Group