Fortress Investment Group has a hedge fund, private equity fund, and a Real Estate fund, that when combined, manage forty three billion dollars in assets. This was not always the case. Fortress Investment Group was founded in 1998 by Wesley Edens, a former partner at the investment bank Lehman Brothers, which declared Bankruptcy in 2008. Robert Kauffman and Randal Nardone were the co-founders of the Fortress Investment Group. Four years later, Peter Briger joined the Fortress Investment Group and help the firm become publicly traded, which made him a successful billionaire in the process.
Briger used to be a partner at the Investment bank Goldman Sachs and Company, and worked there for fifteen years, where he would learn a lot about trading and managing Real Estate investments. Briger studied at Princeton, earning his associate degree in arts and sciences. Then he got his Masters in Business Administration at the Wharton school of business. He has a wife and four children, ad is forty three years old. Briger is ranked number three hundred and seventeen on the Forbes four hundred list, and his net worth of one and a half billion dollars. He is in charge of the hybrid hedge fund for the Fortress Investment Group.
He has been known as the “King of Debt” by the Motley Fool, a website that produces news articles in the financial services industry. Briger has developed his expertise skills of distressed debt markets at Goldman Sachs, and this allowed him to help take the Fortress Investment Group public. He would buy auto loans, failing restaurants, mortgage notes, and sell them when times got better. Briger left Goldman Sachs and helped raise $4.7 billion for the Fortress Credit Opportunities Fund IV. The Fortress Investment Group also has a private equity fund, but the focus is around buying up debt that nobody wants, and selling it when the market clears. Click here.