In 1998, Fortress Investment Group (FIG) LLC was founded. FIG has been quite a success story in the finance world since its creation. FIG handles alternative assets regarding credit funds, private equity, and liquid hedge funds. Fortress is an asset manager of both institutional investors and private clients and is an investment firm based in New York City. Randal “Randy” Nardone is the Chief Executive Officer at FIG. Randall Nardone has been the CEO since 2013. Nardone has also held the position as interim CEO since 2011. Fortress was hatched by Wesley Edens, Randal Nardone, and Rob Kauffman.
Softbank acquired fortress Investment Group in February 2017. Softbank is a Japanese investment firm that purchased FIG for approximately $3.3 billion. After being procured by Softbank Group (SBG), none of the executive roles were shaken up or dissolved by Softbank. FIG’s executives, Peter Briger, Wesley Edens, and CEO, Randal Nardone maintained their positions as executives. Softbank Group is headquartered in Tokyo, Japan.
Since its founding, Fortress has increased its growth in investments very steadily to the upside. Fortress has made a 40 percent return on the company value from 1999 to 2006. In new firsts, Fortress Investment Group was able to successfully change from a private financial firm to a publicly traded company, FIG. The Securities and Exchange Commission did approve Fortress Investment Group, and they were able to start trading as FIG in 2007.
Fortress Investment Group’s board of directors includes CEO Randal A. Nardone, Michael G. Rantz, Douglas L. Jacobs, David B. Barry, Peter Briger (co-chairman), Wesley Edens (co-chairman), and George W. Wellde, Jr.
Fortress Investment Group manages many companies that are a part of their financial portfolio like New Residential Investment, Fortress Transportation, Drive Shack, Brookdale Senior Living, Rail America, New Senior Investment Group, and New Media Investment Group.