Fortress Investment Group is amongst the top investment management firms in the world with the revenue of over a billion annually, and more than $70 billion in asset under management. The primary focus of Fortress Investment Group is high net worth individuals and multi-national corporations. Recently, Fortress Investment Group was taken over by another financial giant, Softbank Group from Japan. The acquisition was marked as complete recently by KPMG and Goldman Sachs, who were overseeing the acquisition. As per the transaction details, Fortress Investment Group is now completely owned by Softbank but would be functioning independently for the time being.
Fortress Investment Group started off as a private equity firm when it was first founded but later divulged into providing other services as well, which included credit funds, private equity, hedge funds, mutual funds, and more. The services offered by Fortress Investment Group are catered to meet the demands of its clients are highly competitive in nature. The person behind the success of Fortress Investment Group is Wes Edens. He is one of the five co-founders of the company and currently holds the position of the President of the company. With the help of his expertise, the company has grown profoundly and is always looking for opportunities to grow his business. He earned his graduate degree from the Oregon State University in Finance and Business Administration.
Soon after graduating, Wes Edens was appointed as the Managing Director at the Lehman Brothers. After working with the company for around six years, he joined BlackRock Asset Investor. He was able to gain knowledge on the investment market and conducted his own research to become an expert in the field. It was then that he decided to start his own company and created Fortress Investment Group in 1998 along with other partners. Wes Edens was the one who was responsible for taking the company public in 2007. Soon after, about 8% of the shares of the company were sold for around $600 million. He was responsible for the finances of the company, and it was due to its knowledge and skill that the company has managed to build an excellent reputation in the market. Wes Edens is also interested in sports and owns a number of different sports team including FlyQuest, National Basketball Association and also the Milwaukee Association. The FlyQuest is an online gaming team that participates in the League of Legends competition based in North America.