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.