Asset management entails a number of specializations and to be able to master all and do them profitably is not an easy task. The field requires training and experience as most of the best asset managers are well adept in various sectors and are able to create a very diverse portfolio at any one time. This has been one of the strong areas of the Fortress Investment Group.
The group that began in 1998 has been in the business of asset management for the last twenty years and continues to add more to its portfolio by the day. The portfolio currently under their management is estimated to be worth more than 40 billion dollars.The current Co-chairman and principal of the group Peter Briger who has worked at Fortress since 2002 has been one of the most influential figures in matters pertaining to its management. He has had experience in various aspects of asset management as well as mergers and acquisitions. The ability to establish the Fortress group credit business and grow it into a billion-dollar business has been one of his biggest career achievements.
Today the fortress investment group has given out more than a 100 billion in credit financing and has done much more in acquisitions and a number of mergers. In 2018 the fortress group raised two billion dollars that would go towards credit financing flagship credit opportunity funds.
This was a follow up in reference to the five billion dollars they had raised in 2015. The promotion of Drew McKnight and Josh Pack to managing director within the group would assist take off some of the responsibilities, Peter Briger had taken on and would enable him to concentrate his efforts more on the overall picture held by the group. In 2017 the Softbank investment bank offered Fortress investment Group shareholders a 3.3 billion dollar offer to acquire the asset management firm.
The bank was looking for a way to penetrate the American market and the Fortress investment Group offered a perfect opportunity for them and given the steady leadership and investment strategies they have shown since their inception they believed it could drive their portfolio even further.
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