1998 was the year in which Fortress Investment Group came into existence after being established by three of its founders, Rob Kauffman, Nardone Randal, and Edens Wesley. They had a common objective of transforming the investment and financial management sector into a customer-oriented industry by prioritizing the interests of the clients rather than the interests of the companies and organizations. All the three gentlemen had come from reputable financial corporations where they had gained adequate knowledge and skills that were necessary for the running of their new organization, Fortress Investment Group. For instance, Randal Nardone had been working as a finance and investment manager and later as a Chief Executive Officer at the BlackRock Financial Management. He had also practiced law in a renowned law firm in New York. This was after he had graduated from the Boston University with a Jury’s Degree in Law.
On the other hand, Wesley Edens had a very successful career before he joined Fortress Investment Group. He had been working in various firms and capacities all of which he maintained a very professional and friendly demeanor. He worked for organizations like the BlackRock and Lehman Brothers, both of which he operated as the managing director of the companies. The combination of the trio could never be better in the articulation of the company’s policies and agendas. They always gave the best leadership to Fortress Group, and as a result, the company has grown to become a mega investment management organization that is admired by many investors and clients in the industry.
One of the primary competencies that have enabled Fortress Investment Group to survive the stiff competition in the investment market is the huge reputation that the company has in the management of investment portfolios. Most people in the investment management industry are aware of the proficiency of the personnel of the organization in the art of wealth management. This has been as a result of the many industrial accolades that the organization has grabbed in several events that have been held by the industry’s authorities to compare the performances of companies in the sector.
Since 2006, Fortress Group has been in the limelight of the media due to the unique investment moves that the organization has taken. Most of them involve purchasing of other organizations while others involve critical decisions that have been aimed at improving the performance of the company. One such decision is the one that was made in 2007 by Peter Briger to allow Fortress Investment Group to trade publicly in the New York Stock Exchange.
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