Fortress Investment Group is an alternative asset manager, specializing in both private equity and hedge funds. Currently, Fortress has approximately $41 billion in assets under management. Fortress is owned by its parent company, Softbank, Inc., who purchased Fortress in 2017 for $3.3 billion.
Fortress Investment Group was founded in 1998 by Wesley Edens, Rob Kauffman and Randall Nardone. After initially beginning as a private equity firm, Fortress soon expanded into hedge funds as well. Fortress was the first U.S. private equity fund to publicly list its shares, bringing much public attention to a company that was not previously known outside of its target audience.
Fortress has a dedicated expertise in credit private equity and credit hedge funds. Fortress Investment Group specializes in distressed and undervalued assets, both in purchasing these assets, as well as lending money to the companies experiencing distress. Fortress is able to participate in both liquid and illiquid debt situations. It has invested over $100 billion in the credit markets since 2002. Fortress uses a detached and informed approach to play the credit markets from any side. Much of Fortress’ activities in sector revolve around either making loans or purchasing loans. For example, Fortress recently participated in a purchase of $2 billion in re-performing loans from Fannie Mae. The purchase was made by Fortress’ subsidiary, New Residential Investment, which buys up large amounts of mortgage obligations to service.
Fortress also makes investments in companies that own real estate, infrastructure and media assets. Fortress Investment Group has stayed true to its roots, maintaining an active private equity presence. Recently, along with several other partners, Fortress invested in a new venture, which will attempt to create a federally regulated Bitcoin exchange.
Fortress’ partnership with Softbank has enabled Fortress to further deploy and utilize its expertise in innovative technology investments. Additionally, Fortress has a lengthy track record in the Japanese market, and it is currently raising capital for a Japanese real estate fund, which will opportunistically purchase Japanese operating companies and real estate properties.
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