Founded in 1998 as a private equity business, Fortress Investment Group has evolved into a global alternative asset manager. Fortress was founded in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone as a private equity firm. They have since sold their shares to other investors. As the first major US private equity firm to float on the New York Stock Exchange (NYSE), Fortress was the first to go public in 2007.
With a focus on private equity, credit, and liquid hedge funds, Fortress Investment Group manages institutional and individual investors around the world. Fortress Investment Group is a global investor in commercial real estate assets, loans, and unusual situations, as well as a supplier of bespoke financing solutions.
Fortress invests in undervalued, troubled, and illiquid credit investments. Private equity credit-focused funds, debt, and hybrid hedge fund structures are all part of Fortress Credit’s business model. Located in New York, the company’s headquarters.
An industry icon who joined from Goldman Sachs as one of the firm’s principals and departed after shutting down his Drawbridge Macro fund due to bad bets on everything from Brazil to China blew the lid off Fortress’ troubles in 2015.
Despite the media attention given to Novogratz resignation, difficulties within Fortress had been festering for some time prior to the public revelation of his departure.
As of June 30, 2019, Fortress Investment Group LLC was the world’s leading, most diversified global investment manager, with assets under management of $40.9 billion. More than 1,750 institutions and individual investors throughout the world rely on Fortress to manage their assets, and it does so use a variety of investment techniques including credit and real estate, private equity, and long-term investments. Refer to this page for additional information.