Fortress Investment Group was founded in 1998 is a highly diversified global investment management firm founded by Wesley R. Edens, Rob Kauffman and Randal Nardone. It was the first large private equity firm handling over 1,500 institutional investors and private global clients to be publicly traded on the New York Stock Exchange (NYSE) in the United States, with Goldman Sachs and Lehman Brothers underwriting the IPO. It is currently headquartered in New York, employing over two thousand, five hundred employees all having various industrial-specific expertise.
Fortress Investment Group was founded with the goal of creating a new kind of investment firm with a focus on innovation and has focused on maintaining a place at the front of new technologies, finance strategies, acquisitions, and ownership.
Fortress Investment Group was acquired by the SoftBank Group in December 2017 at $3.3billion USD. The firms’ current portfolio manages approximately $45.5billion alternative assets in private equity, liquid hedge funds and credit funds, with a net revenue of $1.1billion USD as reported in 2016 and a net income of $180million USD.
The group has continued to grow in innovation, diversifying its portfolio to include high speed rail, the recently constructed and privately owned Brightline Rail headquartered in Florida.
This is inter-city high speed passenger rail which is the first successfully operated in the United States has grown to having a ridership of 885,000 riders as reported in 2019. The rail currently connects Miami and West Palm Beach, Florida and is slated for expansion on the west coast with a new rail line connecting Las Vegas and Southern California.
Fortress Investment Group continues to increase its portfolio and in 2020 Fortress Investment increased its bid for Unizo Holdings Co Ltd, the Japanese hotel chain to approximately $1.6billion USD to increase its global investments. Go here for more information