This year, the Fortress Investment Group will be turning 20 years old. The company was founded in 1998, and it remained strong through the years. The company began managing assets worth only a few hundred thousand dollars. However, the founders of the company exerted hard work until they reached success. The founders who became the company’s principals started to look for other options on how to promote the company, and once they found a new client, they are making sure that they will be having a great experience working with the company. When their clients tell their friends and families about their experience with the Fortress Investment Group, the founders are expecting more people to work with them. Word of mouth advertising has changed the fate of the company, and it became one of their major driving forces in welcoming new clients.
In 2007, the founders of the company partnered with the New York Stock Exchange. They introduced the company’s IPO to the public and sold 8% of the total value of the company to individuals who bought their shares, equivalent to almost $600 million. It also resulted in their assets to skyrocket, and in the present, the Fortress Investment Group has $65 billion worth of assets being managed. They are also recognized as the largest private equity company in the United States, due to the excessive amounts that the company manages.
In 2010, the company had a major role in constructing the Olympic Village for the Vancouver Winter Olympics. The Fortress Investment Group worked with the city government of Vancouver, helping them with the funding. After the Olympics have concluded, the city government of Vancouver decided to donate the Olympic Village to the company as a sign of gratitude. The Olympic Village is currently listed as one of the company’s assets.
Today, the Fortress Investment Group keeps on experiencing massive growth. Wes Edens, Randal Nardone, and Peter Briger are the current executives managing the company, and they are now under the control of the a Japanese conglomerate called the Softbank Group. The private equity company was bought for $3.3 billion.