The work to erect Fortress Investment group was not a one-person effort but the fruits of teamwork, therefore, Randal Nardone and his colleagues both Wes Edens and Rob Kauffman worked jointly to make it a success in 1998. It was situated in New York City, and its headquarters happened to be in the same place as its primary being to manage Investment. Also, it has been listed in the stock market exchange of New York City hence becoming the first private equity company to be publicly traded.
The founders of Fortress Investment Group had worked previously in several firms before executing the role to bring an asset management firm to an existence. Some of those firms include; BlackRock Financial Holdings where Wes Eden was a partner, UBS where Randal Nardone worked as the managing director and Rob Kauffman was an experienced and informed businessman. Therefore, these varied experiences utilization saw it rise into real estate investments, hedge funds and debt securities, and all this under the stewardship of Michael Novogratz. Michael decided to join Fortress was a mega boost to its leadership because he came along with the experience he acquired while he formerly worked in Goldman Sachs’ as a partner.
From 1999 until 2006, it was approximated that Fortress Investment Group’s private equity funds increased to around 39.7 percent. Its excellent image and excellent reputation made it recognized and honored globally and also, being awarded on several occasions. In 2014, it became the Hedge Fund Manager of the year as named by Institutional Investors while HFMWeek gave it the honor to call it the Year’s Best Management Firm. Around the same time, it employed Jeff Feig who previously worked at Citigroup where he was the head of the Global Foreign Exchange. In Fortress, he was made the co-CIO of its Macro Fund.
Finally, Birmingham Business Journal which was dated October 2014 took the opportunity to clear the rumors that were speculating in the market. It confirmed that Fortress Investment Group had indeed bought Inverness Corners that was a retail center. Despite Fortress trading public, it has also taken several portfolio companies public such as selling RailAmerica Inc. via an open offer, Aircastle Ltd, and Brookdale Senior Living Inc. The art of Acquisition was introduced into the organization by Peter Briger after joining the team in 2002. Since Fortress Investment Group made its first acquisition transaction in 2006, it has maintained a great rate of growth to date.