Fortress Investment Group was founded by a group of financial geniuses who have created plenty of wealth during their lifetimes. The company has been continuing to grow by making profitable investments and is led by Wes Edens, Randal Nardone, and Peter Briger. Fortress recently teamed up with iPass, which is a company that is changing the world by connecting more and more people to the internet through its Wifi offerings. The company believes it will be able to continue to expand thanks to a $20 million investment by Fortress. The CEO of iPass, Gary Griffith, commented that Fortress has really help his company by allowing it to focus more on growing its revenue.
Fortress Investment Group was created by a group of financial geniuses who have continued to lead it towards success. Three of its original founders remain, and these are Wes Edens, Randal Nardone, and Peter Briger. Since 1998, they have employed a spread of investment strategies that have allowed the firm to grow steadily. The firm’s investment in iPass came to be because the company understands the value of Wifi and that there will be more and more people in the future who desire to be able to connect to the internet. Fortress is currently employing 900 people and is managing $40 billion in assets for its many different investors. The firm has been able to continue to raise funds for new projects that have found success because of its willingness to fund them.
Fortress Investment Group was honored by Institutional Investor Magazine in 2014 when it was given the “Institutional Hedge Fund Manager of the Year” award. The firm was recently acquired by Softbank, which is a Japanese investment firm that mainly focuses on the technology sector. Softbank paid for Fortress Investment Group with cash and is allowing the firm to continue to operate on its own. The Japanese company is hoping that Fortress will be able to help it grow its alternative asset portfolio, which is an area that Fortress has always done well in. Looking into the future, the firm expects to continue to invest in multiple industries.