The Fortress Investment Group has been a trendsetter throughout its history which dates back to 1998. Soon after Fortress was established by Wes Edens, Randal Nardone, and Rob Kauffman the company began seeking new blood to ensure the best returns were secured for investors. One of those who was headhunted by Fortress Investments was the Goldman Sachs broker, Peter Briger who had spent the previous 15 years at Goldman Sachs.
The first steps taken by Peter Briger at Fortress Investments took the credit and real estate expert to the position of Principal at the group. The real estate sector has been a huge part of the success of Fortress Investment Group as Peter Briger has overseen the return to subprime lending which began as early as 2010. The ability of Briger and his team in the credit and real estate division of Fortress to identify a gap in the market was a gamble following the problems of the 2008 credit crunch. Read the article at Wikipedia to learn more.
In 2002, Peter Briger arrived at Fortress Investments to find a company with assets under management totaling around $4 billion. Following the appointment of the Principal to the company and to the Board of Directors in 2006 the assets under management had increased tenfold to around $40 billion.
The growth of the hedge fund group may have excited industry insiders but the stock offering of 2007 guided by Briger made a splash in the national headlines. The public stock offering in the Fortress Investment Group is seen by many as a watershed moment for the company in terms of it becoming a major player in the financial markets. As Fortress Investments has become a part of the SoftBank Group, the chance for Peter Briger to enjoy the chance to grow with new areas of investment has been welcomed. The new owners have maintained the management structure of the Wharton School of Business graduate as Co-Chairman following the decision to acquire Fortress for $3.3 billion.