Fortress Investment Group
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| Fortress Investment Group | |
| Type | Public (NYSE: FIG) |
|---|---|
| Founded | 1998 |
| Headquarters | New York, NY |
| Key people | Wesley R. Edens, CEO & Chairman & cofounder Robert Kauffman, President - Europe & Director & cofounder Randal A. Nardone COO & director & cofounder |
| Industry | Private Equity, Hedge Funds, Real Estate-related assets |
| Products | Asset Management |
| Net income |  $192.7 million USD (2005) |
| Website | www.fortressinv.com |
Fortress Investment Group (NYSE: FIG) is a New York, NY-based asset management firm which manages private equity, hedge funds and real estate-related investments. The company went public on February 9, 2007.[1]
[edit] History
Fortress Investment Group was founded as a private equity firm in 1998 by Wesley R. Edens, a former partner at BlackRock Financial Management, Inc.; Robert Kauffman, a managing director of UBS; and Randal A. Nardone, also a managing director of UBS. Fortress quickly expanded into hedge funds, real estate-related investments and debt securities.
Fortress Investment Group's investments grew rapidly, with its private equity funds netting 39.7% between 1999 and 2006.[2]
As of September 30, 2006, the most recent date for which figures were available before Fortress Investment Group's IPO the firm held around $17.5 billion in private equity, around $9.4 billion in hedge funds and managed two publicly-traded investment companies:
- Newcastle Investment Corporation (NYSE: NCT),
- Eurocastle Investment Limited (Euronext AMS: ECT
Fortress has returned several of its private equity investments to public trading, including Aircastle Ltd. and GateHouse Media.
[edit] External Links
[edit] References
- ^ "In a First, Hedge Fund Launches on NYSE", Associated Press via Washington Post, 2007-02-10. Retrieved on February 10, 2007. (in English)
- ^ "Fortress Investment's Shares Soar After Initial Sale", Bloomberg, 2007-02-09. Retrieved on February 10, 2007. (in English)
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