Posts in Category: Financial Institution

A journey through the life of Fortress Investment Group

Softbank Group recently acquired the Fortress Investment Group. Softbank had been looking for an asset management firm to help grow its presence in the country as well as gain expertise in the asset management business which would enable it to tap into the whole new world of asset management as well as mergers and acquisitions both with the American market as well as the Asian market. This acquisition request had been brought before its shareholders in July 2017 with an offer of approximately 3.3 billion for which the company would become wholly owned by Softbank. The shareholders approved the same and had received all the necessary green lights from the government the acquisition was made.

Fortress Investment Group was founded in 1998 by three partners who had quite the experience in asset management and other financial matters.They had seen a gap in the market that they believed they had the skills and capabilities to fill and achieve a certain amount of success from it. This would be driven by an initial investment of approximately 400 million dollars as assets under management at the time. Growing this into a few billions was the next goal, and within five years they had hit the 3 billion mark. This would become one of the fastest recorded growths at the time with a return on equity hitting thirty-nine percent for a few consecutive years.

Fortress Investment Group management understood that despite relying heavily on private equity funds, they needed to venture into credit financing, which they did, leading to an improved ability to make more acquisitions.At this time the group was also focused on capital markets as well as mergers. These two areas required some form of expertise and would come in the form of Peter Briger who is the current CO-CEO and is based in San Francisco. He brought in a wealth of experience, having been a partner at Goldman Sachs with over fifteen years’ experience working in various capacities. Today the fortress investment group manages assets worth more than 40 billion dollars and is poised to grow given the new financial muscle brought in by Softbank.

Wes Edens; Contributing to the Growth of Fortress Investment Group

Wes Edens; Contributing to the Growth of Fortress Investment Group

Fortress Investment Group was formed by three financial experts who came together to address the growing financial needs of different clients. The company is a highly diversified investment manager that applies deep experience alongside specialized expertise to help clients with investment strategies alongside private equity, liquid markets in additional to traditional asset management. Since its inception, Fortress Investment Management has garnered more than 1,500 institutional investors alongside private clients. The successful leadership of Fortress Investment Group is linked to Wes Edens. He has been the chairman of the company since 2014.

A Look into his Career

Born in 1961, Edens resides in New York and he has been shaping his career around the financial services industry. A graduate from Oregon University, he majored in finance followed by business administration. Other than that, he is well known for being a guru in private investments as well as hedge fund management. It is critical to note that over the years, he has been keen on making sure that he not only flourishes as an individual but also change people’s lives through his career. Edens has therefore extended his skills to serve at Milwaukee Bucks, a famous sports team in America. Besides, he has also served in different companies including being the board of director at Newcastle Investment Corp.

Leadership

In addition to that, Wes Edens is the principle as well as the co-chairman of Fortress Investment Group. In his capacity as the leader, he has been overseeing the streamlining of different operations in accordance to the requirements of clients. Other than that, he is well versed with the needs of his clients and uses that knowledge to make sure that they are served accordingly.

Additional Information

While shaping his career, Wes Edens has made sure that he handles overall leadership, management as well as coordination especially where financial matters are involved. Throughout his day, he plays vital roles in the development of different useful programs that will in turn build the company. Most fundamentally, Wes Edens has played an integral role in the creation of financial budgets alongside maintaining the excellent operating platforms of Fortress Investment Group.

The Observation

Now that Softbank Group has completed the purchasing deal of Fortress Investment Group, many people have questioned the future of the financial services firm in regards to the services they used to enjoy. Well, from the look of things, the umbrella of leadership will still be maintained because Wes Edens has been asked to retain his leadership position.

Fortress Investment Group: Changes with Ownership Through Time

The Fortress Investment Group is a company that was created by the formers workers of the BlackRock Financial Management Firm. Rob Kauffman, Wesley Edens, and Richard Nardone worked together to think about the business that they would establish. Knowing that there is a rising demand for companies that are offering investment and financial services, they decided to create the Fortress Investment Group in 1998. The company became an instant hit after it was introduced to the public, and they managed to get a lot of investors because of the potential that their company highlighted. The investment and financial firm managed to grow the assets given to them, starting with a few million dollars to over a billion dollars in a few years.The impressive feat resulted in more people investing in the company that they created. More and more people started giving up their money to the company, hoping that it would be managed and invested in the right investment option.

To reach a huge number of audiences, the Fortress Investment Group also had to be offered to the public, and in February 2007, the company debuted at the New York Stock Exchange. Many people decided to buy their shares because they feel that the company would still grow bigger. The founders of the company offered 8% of the company or about $600 million in value to be traded to the public. This move set them to a whole new level, as the investment and financial firm started to be known around the world.The Fortress Investment Group also made a mark in the international scene as one of the top performing companies during the time of recession. Because of their remarkable performance in the field of business and finance, the founders of the company were given recognition.

They also received many awards from different sources because of how they are managing their business. After the recession, the company’s executives decided to expand their operations on a global scale. Three new satellite offices opened – one in New York City, one in Singapore, and one in Shanghai.Through the 2010s decade, the Fortress Investment Group showed their competitors that they could still make it to the top. The company attracted the attention of larger companies and offered to purchase them started to appear one after the other. In 2017, the company’s executives decided to accept one of the proposals from the Softbank Group, wherein a merger would take place, buying the Fortress Investment firm for $3.3 billion.

Introducing PSI Pay’s Contactless Payment Ring

Many people are using alternative methods to pay for goods and services. In the United Kingdom alone, statistics pointed out that many people are now relying on their credit cards to purchase anything. The British Retail Consortium published a report that more than 50% of the purchases done by a British household are made using their credit cards. The statistic released was not surprising, knowing that for the British people, it is more convenient to swipe their card to pay for the things they bought. They consider bringing a wallet and opening it to pay for money and waiting to receive their change as a waste of time, and the government is also considering the expansion of the use of credit cards to most of the people living far away from the cities.

A financial company based in the United Kingdom, called the PSI-Pay, is stating that they have signed a partnership contract with a tech company called Kerv Wearables. What they wanted is to create a wearable ring that can also be used as a payment device. They announced their plans to the public recently, and the people felt excited about the newest developments in the field of technology. PSI-Pay stated that once their wearable rings have been developed and released commercially, many people will buy it and the demand would surely skyrocket. They are also predicting that cashless and contactless payments would become more prevalent, and more companies will follow suit. The dominance of the cashless and contactless payments is felt all across Europe, where the practice has been in effect for several years now. PSI-Pay wanted to ensure the public that once their wearable rings are out in the market, people would no longer need to go under the hassle of stashing inside their bags to look for their wallets or entering their PIN number that can be hacked anytime. Experts believe that the efficiency and convenience brought by this new technology would reshape the world of business.

For the first time in the economic history of the United Kingdom, credit card use has overtaken the use of traditional coins and bills. With the upcoming release of the ring made by Kerv Wearables and PSI-Pay, the conventional payment tools are on the threat of being eradicated. One-third of transactions in the United Kingdom today are made through contactless payments, which has been around for only a decade. Experts believe that more people will be using the technology, especially soon.

Professional Debt and Finacial Services

NextBank Capital is a financial services company based out of Dallas, Texas with currently four locations. Since 2016, NextBank has raised 283 million dollars of equity and debt from their high net worth investors continuing to grow their business while solving debt issues for those wanting to improve their credit rating, and business looking to increase their profits while getting rid of debt that they accumulate. There are three top businesses that NextBank takes part in, Institutional Services, Mortgage Banking, and Commercial Banking.

All throughout the United States, there are many corporations and financial institutions that looks for customized financial services, and NextBank is who they prefer. One of the main reasons these corporations and financial institutions choose NextBank is that when they rely on them, they know exactly what to expect, flexibility, expertise, and their quality and reliable execution. They have very experienced professionals who are committed to their clients, helping them feel they have made a good decision having NextBank finance their operations and assist with their growth for years to come.

Any stage of a real estate project, NextBank also provides financing for any type of construction opportunity, giving the real estate developer a wide-range of choices that will cover their current and future needs, and can also can act as your corporate advisor. In this case, it makes it much easier to just focus on becoming an even better business.

When you work with NextBank over any other competitor in the debt and finance arena, you can expect your business to grow rapidly, witnessing the expansion and the presence of your market. The Treasury Management services that NextBank provides are products that tailor to your company’s function, making it more capable to increase returns, adding more value to services your company provides. The mission of NextBank is to have both a strong desire to serve all their clients, and industry expertise you won’t find anywhere else.