Peter Briger is a financial professional who works for the Fortress Company which is an investment management firm. Currently, he is the president, principal and co-chairman of the board in the company whose work is to oversee the company’s credit business and to run the Drawbridge Special opportunity funds. Before joining Fortress, Peter worked for 15 years with the Goldman Sachs & Co. Company but later became its partner. Peter is also a CEO and the starter of a project development company known as Hydromine. The company mainly deals with the generation of power, sustainable energy technology and natural resources projects with the aim of changing how people use energy.
Peter studied in Pennsylvania University in the school of business where he got his MBA and Princeton University for his bachelor’s degree.Peter’s career began when he joined Goldman where he was tasked with management, leadership and operational roles. As a dedicated and skilful person, Peter gained a lot of experience while he worked in the investment banking industry. His financial knowledge and dedication made him a partner in the banking industry before joining Fortress in 2002 as the CEO. The skills and experience that Peter Briger gained made him take Fortress into greater heights. One of the greatest achievements that Peter has made is making Fortress one of the first investment companies to go public in the U.S.
Today, the company has expanded and is managing assets worth more than $65 billion where Peter Briger has been given a very high position in the company that allows him to convert assets into cash. Due to its expansion, the company is now able to accommodate both private and institutional investors.Besides his profession, Peter Briger serves as a board member of various social institution such as the Central Park Conservancy, a Global Fund for children and hospital for specialized surgery. Peter is also committed to providing quality education for children, alleviating poverty and helping children from risky areas. Peter has donated over $600 million to the central park for its conservation, and he is also a great philanthropist.
Fortress Investment Group is a previously private (Now public) equity firm that was founded in 1998 in New York City by Randal Nardone, Wes Edens and Rob Kauffman (Who is now retired and focused on investment in the race car industry). In 2007, the firm went public and it has been noted as the first significant private-equity firm to allow public ownership through the New York Stock Exchange. After it went public, the company went on to expand globally and now controls over $43 billion in assets for approximately 1800 investors in hedge funds, capital vehicles and private equity. The investments of the firm are focused on risk-adjusted returns for their investors and the company employs over 900 people at its New York headquarters. The goal with the firm was to create an investment firm with an emphasis on “alternative-assets”, it started with $400 million and quickly grew to its $43 billion value that it is known for today in the 2000s.
The current individuals that sit on the Fortress Investment Group board are the New York-native Randal Nardone, Peter Briger and Wes Edens. The firm specifically specializes in operations management, asset-based investing, capital markets, corporate acquisitions and mergers as well as sector-specific knowledge of multiple companies across the globe. A multitude of assets are also held and controlled by the company, including real estate, financial and capital vehicles that are focused on generating long-term gains. Fortress Investment Group also boasts about their employees and board members that are full of experience, stating that almost everyone on their team has held positions at humongous companies like Goldman Sachs and BlackRock Financial Management.
The keystone of Fortress Investment Group is its numerous investment vehicles or funds that generate insane amounts of revenue. Fortress Investment Fund I was known for its intelligent real estate investments that increased the group’s worth by 40% from 1999 to the year of 2006. With its new-found funds in 2006, the company didn’t stop its rapid pace and found itself acquiring the largest ski resort company in the Americas, RailAmerica, Penn National Gaming, Canadian-based Intrawest and Florida East Coast Industries as well its subsidiary Florida East Coast Railway. From here, the company made its decision to go public and the value of its portfolio raised a significant amount instantaneously. By 2010, the company was awarded the Credit-Focused Fund of the Year award and received even more prestigious awards as time went on.
Wes Edens co-founded Fortress Investment Group with Randal Nardone, and Robert Kauffman. To be able to appreciate all the hard work that went into the management of FIG, you need to understand that the company started with about 30 employees and about $400 million capital. Now, the company can boast of more than 1200 employees and still counting. In addition, the current total asset of the company is estimated to worth about $72 billion.Although Wes Edens has vast knowledge in several areas of business, his personal competences are management of fund hedge and private equity investment. His purchase of Milwaukee Bucks is another landmark in his career. He is married with 4 kids and despite being a busy man because of numerous positions, he is also a family man who creates time to be with his family.
He currently has an executive position in very many notable organizations. Some of them are U.S. Ski and Snowboard Team Foundation and Newcastle Investment Holdings LLC. He was the Chief Executive officer of Fortress Investment Group from 1998 to 2003.Considering his achievements and his numerous affiliations, nothing indicates that he had a very humble beginning. He started his career in 1987 in Lehman Brothers. He worked there as the MD and as a senior partner. He left in 1993 and went to join BlackRock where he was also a partner and managing director from 1993 to 1997.To underscore his love for sports, he didn’t only buy off Milwaukee Bucks, he also built a new $400 million arena for the team. He was also instrumental to his company’s contribution to the building of the athletes’ village for the 2010 Olympic Games in Vancouver, Canada.
According to the Forbes billionaires list released in 2018, Wes Edens is #962, a far cry from his position in 2007, which was #297. Fortress Investment Group is loved by its employees for several reasons. One of the reasons they love the firm is its policy on training.Wes Edens and other co-founders of the company believe that from those to whom much is given, much is expected. So, if you want the best from employees, you need to equip them well. This is why they spared no expense when in the regular training of their employees.However, it is not clear if this policy will still be upheld after their acquisition by SoftBank. Even though the acquisition is more like a merger between SoftBank and FIG, a lot of people did not see it coming because FIG was doing very fine.
The investment industry is full of people who do not genuinely care about clients. Randal Nardone started working in the industry at a young age. He enjoyed interacting with clients, but he thought there were better ways to offer investment advice.Most investment advisors make money by offering products to customers. Many of these products have high commissions and do not benefit clients financially. When Randal received an opportunity to start Fortress Investment Group, he knew that it was a great idea. The concept behind Fortress Investment Group was to offer financial planning services to clients who could tolerate additional financial risks. Some clients want to invest in riskier assets to increase their rate of return.
Randal’s Investment Philosophy
Randal Nardone is one of the most prominent investment advisers in the United States. He has a positive track record with clients in various industries. Anyone who wants to take their investments to a new level should consider working him. He teaches people how to invest to reach their goals.Randal invests in various asset classes. Instead of concentrating on stocks and bonds, he buys real estate and gold. He also holds multiple cryptocurrency coins. He firmly believes that blockchain technology can change the world in the coming years.
Fortress Investment Future Goals
Fortress Investment Group is a company that is expanding. With an aggressive marketing strategy, the company should continue growing in the future. Anyone who wants to improve their investment allocation should consider working with Randal. Not only does he enjoy teaching people about financial planning, but he also has experience helping clients from various backgrounds.Randal Nardone could retire, but he plans to keep working for the foreseeable future. He is proud of the company that he helped build. The financial planning industry needs more people like Randal Nardone.
There are times when a woman will struggle to get the job that she wants while watching men around her claim the title that she would like to have, herself. Susan McGalla is someone who has found her way in the business world and found success despite being a woman. She is an example and leader for other women who are looking to be part of the business community. This woman was raised with brothers and a father who was a football coach and she feels that the way that she was raised has influence on her actions now. She was raised to do the same kinds of things that the boys around her did, and she was not given any kinds of breaks for being a girl.
Susan McGalla has held multiple high level positions and has proven that women can make it in the business world. She has worked her way up in the world, proving herself over and over again. This woman has worked as the President of American Eagle Outfitters as well as the Vice President of Business Strategy and Creative Development for the Pittsburgh Steelers. She is someone who is making a way for other women who have dreams for themselves but who have been too afraid to go after those dreams.
Susan McGalla studied at Mount Union College and received a degree from that school. She has a Bachelor’s degree in business and marketing which has been helpful in the careers that she has chosen for herself. She is someone who still has a connection to the college that educated her and she serves on its Board of Directors. She is married to Stephen McGalla, a wealth manager, and she is someone who is happy with the place she is at in her life right now.