When the Fortress Investment Group bought American General finance for 125 million dollars, many did not understand why the group was spending so much money on a subprime lender at the time. What they did not know was one of the founding members Wes Edens was among the best in reviving such strategic investments, and within a short time, they have renamed it to Springleaf financial services, transforming it into a private equity unit which currently manages assets worth more than fourteen billion dollars. This is just one of the many examples of how the Fortress Investment Group has been able to make strategic investments that looked daring at face value and turning them into objects that mirror the group’s success.
Fortress Investment Group today manages assets worth more than 42 billion dollars despite it returning to private hands in 2017 when it was acquired by Softbank. This level of success has been made possible by the steady leadership it has enjoyed since it was founded in 1998. The Group has been able to attract talent from larger organizations, even in its formative years when it was much smaller. Peter Briger, their current Co-CEO, is a case in point of someone who moved from a bigger organization Goldman Sachs and manages to grow his career at Fortress to where he is today. This ability to bring and retain top talent goes a long way in ensuring continuity and the understanding of business operations which in turn translates to business stability.
The Fortress investment listed on the NYSE in 2007 at a time when it was the only private alternative asset management firm to do so. The firm had managed to sell about eight percent of its stock to the public by 2009 which represented growing confidence in their management skills. In 2017 however, the shareholders received an offer from the Japanese Investment Bank Softbank offering a total of 3.3 billion dollars to acquire all their listed shares. This acquisition was approved in July of the same returning the fortress investment Group to where it all began. With this, the group hopes to continue making more strategic investments as they have alway done.