Fortress Investment Group On A Global Journey With Softbank
Fortress Investment Group is a major investment company specializing in long-term investment. The company works on its investment in 3 company divisions that is the Credit, Permanent Capital vehicles as well as Private Equity.
FIG was established by Wes Edens, Rob Kauffman, and Randal Nardone. While Edens and Nardone remain with the company Rob Kauffman left in order to pursue his passion for car racing. Rob Kauffman established RK Motors Charlottesville and bought a stake in a car racing company that competes in NASCAR.
RK Motors Charlottesville is a company that focuses on the restoration of American high-performance vehicles. He has gone on to drive in the 24 Hours of Le Mans as well as the 24 Hours of Daytona races. Apart from these, he is co-owner of Chip Ganassi Racing. Even when Fortress Investment Group was acquired by Softbank both Wes Edens and Randal Nardone stayed on as co-principals along with Peter Briger who joined the firm in 2002. Peter Briger had earlier worked for 15 years at Goldman Sachs and had been successful.
He brought his knack for investment and his success to Fortress Investment Group and was the one who spearheaded the creation of the company’s Credit Division which is in charge f funds like Fortress Secured Lending Fund, Drawbridge Real Assets Funds, Drawbridge Long Dated Value Funds among others. While at Goldman Sachs he had focused on Asia and this background played a key role in the acquisition of the company by Softbank.
Softbank paid $3.3 billion in the deal which the principals at Fortress Investment Group saw as a way for the company to become more global. Speaking on the acquisition they said that the move was the next logical step for the company in order to grow internationally. With the help of Softbank, they hoped that the company could identify opportunities and deal with challenges of the international market.
About Fortress Investment Group (FIG)
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