Peter Briger’s Years of Experience with Goldman, Sachs and Asian Finance a Key Influence at Fortress Investment Group
Peter Briger is a principal founder of the Fortress Investment Group, a diversified long-term, risk adjusted investment manager with 1,750 global investors in hedge funds, private equity and investing vehicles. It specializes in management of operations along with industry-specific knowledge, mergers and acquisitions and investing in assets. After two decades, the firm, based in New York, has more than 900 employees and manages assets of more than $43 billion in terms of debt and equity and causal, ground-level factors in close consultation with renowned corporate professionals and stakeholders.
About Peter Briger came onboard in 2002 with experience gathered over 15 years at Goldman, Sachs and from significant time involved in Asian finance. Fortress Investment Group made a series of acquisitions between 2006 and 2007, such as RailAmerica, the Canadian Intrawest and Penn National Gaming, and made a high-profile IPO in 2007. This was the first of its kind for a hedge fund, which made a daring move of taking operations into a more public arena. This not only increased exposure but gave the firm more visibility, an attribute other firms, such as the Blackstone and Carlyle groups, found valid enough to follow suit.
Currently, Peter Briger, listed on the Forbes 400, maintains Fortress Credit, managing real estate investment and credit. He is also a principal player in a Japanese purchase of Fortress. He is one of Fortress’s principals along with founders Randal Nardone, also CEO, and Wes Edens, all of whom also serve on the Fortress board of directors. He attended Princeton and earned a master’s degree from the University of Pennsylvania’s Wharton School of Business. He serves on the Princeton University Investment Company board and is actively involved in work for the San Francisco-based Tipping Point for low-income families and the chartered Caliber Schools. Click here.
Michael Nierenberg worked for Bear Stearns for 14 years. Some of the titles he held were head of interest rate trading operations as well as being the co-head of structured products. He was also involved with mortgage backed securities trading and also served on the board during his time with Bear Stearns. Prior to his time at Bears Stearns, he was with the now-defunct Lehman Brothers.
During this time, he successfully guided his professional career through the crippling mortgage crisis of 2007. Navigating those waters was indeed challenging, yet he found solutions and a way to move on and now he is CEO of New Residential Investment (NRI). Mr. Nierenberg likely earned the equivalent of his PhD in mortgage-backed securities during the crisis, and now he runs a REIT based on opportunistic deals in residential real estate.
This could well represent the next junk bond market. NRI is also involved with the non agency mortgage backed securities market (RMBS), which ballooned from a $600 billion market in 2003 to over $2 trillion at its peak in 07. RMBS mortgages are privately held and not backed by the US government, or any of its entities, because the borrowers could not meet the standards, so there is credit risk. Just like with junk bonds, where there is credit risk, there is money to be made. Click here.
Bhanu Choudhrie, founder of C&C Alpha Group, is an accomplished figure in the business world. His own firm focuses on various industries, ranging from banking and real estate to utilities and hospitality, as well as aviation and healthcare. Born in India, Bhanu Choudhrie takes a global approach to business and is known for a successful investment in developing markets such as India and the Philippines. Additionally, he serves on multiple executive boards. In the U.S., for example, he is currently a member of the Executive and Risk Committees for Customers Bancorp and the Board of Directors. He has received many awards, such as the United Kingdom Asian Voice Political and Public Life Awards Entrepreneur of the Year in 2008.
He is also well-known for his philanthropic efforts with Path to Success, a program focused on assisting those without access to education and providing support to people with long-term health problems and financial need. In order to remain productive and successful, Bhanu Choudhrie has identified and incorporated many key elements into his working life. He keeps to a schedule by getting up at 6:30 every morning and working independently until reaching the office at 10. He breaks for lunch and then works until 6, when he leaves the office, and then takes care of a mixture of business and personal affairs until midnight, when he goes to sleep.
He also emphasizes balance; he makes sure to exercise daily and relax before bed through pleasure activities such as reading or watching movies. On the business side, he relies on a strong team and focuses on making his thoughtful decisions. Bhanu Choudhrie believes that investments should not be made impulsively, but rather should be made after careful consideration. Additionally, he focuses heavily on educating himself about the world around him and global events so he can understand the current economic climate. He also believes that it is important to be accepting of any failures that may arise and treat them as a learning experience. Bhanu Choudhrie is dedicated both to his business and to maintaining a healthy lifestyle, and these factors contribute to his successful career.
Mike Nierenberg is without a doubt one of the most versatile investment managers in New York and one of the most respected real estate experts around the world. In his long career, he is fortunate to have worked with some of the best investment companies. In his latest interview, he pointed out that working for different companies expanded his view on management and investment in general. Here are some of the lessons he has learned from his two decades career in investment management. Working with companies such as Bank of America Merrill Lynch has helped him in understanding different dynamics in the global market for alternative investments.
Big banks such as Bank of America Merrill Lynch have unmatched policies, and according to Mike, some policies are long term. From this institution, Mike Nierenberg understood that having a long-term view on investment is ideal especially in the money market. The same applies to his business tenure at JP Morgan, where he points out that although the organization was relatively smaller to Bank of America, the same long-term approach still applies. Second, in the last two decades, he has understood the worth of working as a team. Teamwork according to Mike Nierenberg is underrated but is the key to capitalizing on the investment trends. Regardless of the company he has been part of, some structures encourage teamwork.
This understanding according to him has helped him to apply the same philosophy at New Residential Investment Corp. Thanks to his execution of this ideal, the company growth is currently at its best, and many pundits believe that in the next five years, it will be a global reference point in real estate. Thirdly, in his long career, Mike Nierenberg understands the value of service expansion. Although the best place to capture what a company is passionate about is from a blueprint, change is important. In all the companies he has been part of, there is an aspect of change. Unlike many investment markets, dealing with real estate requires a company to understand that some factors are not constant and changing is therefore important. He has helped many companies to adapt to changes. Some of the companies include Fortress and JP Morgan. Click here.
A dedicated member of his trade, Ted Bauman is a multifaceted businessman with expertise in writing, finance, and philanthropy. He melded his two talents in hopes of becoming the illustrious financial writer he is today. Before plunging into his entrepreneurial pursuits, Bauman developed a worldly essence by navigating the globe. During his travels, Ted Bauman found his heart in South Africa. The fascinating culture paired with the boundless opportunities sparked Bauman’s intrigue, subsequently inspiring him to relocate and spend over two decades assimilating the culture. After attending the University of Cape Town, investment expert Bauman endeavored to make a name for himself in the industry.
As a result, he propelled to the forefront of his niche. As it turns out, Bauman’s calling was fund management. In short, Bauman was responsible for the development of low-cost housing projects. His business role in the nonprofit sector armed Bauman with a prestigious reputation. To date, Bauman is most proud of Slum Dwellers International, an initiative he helped pioneer. Slum Dwellers International has gone on to assist 14 million individuals who grapple with the rigors of impoverishment. Bauman attributes his diverse intellect to the time he spent assimilating the entrails of a foreign culture. After 25 years, Bauman returned to his homeland, America.
Upon his return, Ted Bauman discovered his knack for writing. He used the knowledge he gleaned from his college experience, combined it with his aptitude for writing, and became a financial writer for Banyan Hill Publishing. Since realizing his vast talents, Bauman’s gone on to impact his domain substantially. After garnering considerable support from the public, Bauman ascended to the top of the ranks. Currently thriving as both an author and editor, Ted Bauman excels in his domain. As an attempt to appeal to his loyal subscribers, Bauman creates personable content that speaks to individual circumstances. According to Bauman, there’s no better way to create compelling work than by putting yourself in the shoes of the reader.