Peter Briger has had quite a successful career as an alternative investment manager and one of the founders of the very-successful Fortress investment group. However, while his job career took a turn while working with the investment company, he joined the partnership armed with more than a decade worth of experience gained during his stay at Goldman Sachs. His busy schedule with the investor also hasn’t stopped him championing other philanthropic courses such as supporting tipping point. But where did all start?
Peter’s previous engagement
Before joining hand with the like of Wes Edens and Randal Nardone to start Fortress investment group in 1998, Peter Briger worked as a banker with Goldman Sachs. He had spent close to fifteen years here working in the banker’s special opportunities fund division before making partner in 1996. It was during his tenure with the banker that he mastered the art of managing credit divisions that would later come in handy in advancing Fortress group’s agenda.
Partnering to form Fortress Group
Despite having a successful career and making partner at Goldman Sachs, Peter’s ambitious entrepreneurial dream saw him partner with Edens and Randal and create Fortress capital. His experience in debt management and real estate saw him assume the responsibility of steering the investment company’s credit division with a focus on debt and real estate.Experience and a booming real estate industry saw his credit division outgrow most of the company’s departments within a few years after take-off. By the time Fortress group went public in 2007, Peter’s credit division accounted for close to 30 percent of the total company’s revenue. The almost sudden real estate market crash of 2008 would, however, deal a big blow to the company and threaten to cripple its credit division that heavily relied on distressed mortgages.However, Peter Briger quickly turned the company’s focus from overreliance on mortgages to other credit vehicles. He concentrated on the Asian distressed debt markets and most experts attribute this to the company’s recent acquisition by Japan’s Softbank.
Involvement in philanthropy
Peter briger is also a nationally renowned philanthropist dedicated to supporting several national and regional charitable courses. For instance, he supports Tipping Point, a San Francisco based not-for-profit organization that helps turn around the lives of low-income families in the region.He is, however, best known for his central park conservancy efforts that saw him dedicate personal resources to the conservation of the New York Park and the livelihoods that its continued existence supports. The successful entrepreneur is also devoted to poverty alleviation through education and sits on such educational boards as Princeton University.