The Successful Career of Fortress founder, Wes Edens.

Wes Edens’s financial career has been of great success and tremendous achievements. He is the true king of subprime lending. He was born in October 1961 and raised in Montana. He studied at Capital High School, he later joined the Oregon State University where he graduated with a Bachelors in Finance and Business Administration.He is a successful businessman and a private equity investor. He has worked at Lehman Brothers as a partner and a managing director. In 1993 he moved to BlackRock’s private equity division where he worked till 1997 as a partner and a managing director.Wes Edens partnered with Robert Kauffman and Randal Nardone to start Fortress Investment Group.

With an initial investment of $400 million, the firm kicked off its operations on the first of January 1998. He currently serves as the principal and co-chairman of the firm, the position he shares with Peter Briger.Two decades after its foundation, Wes Edens announced the sale of Fortress Investment Group at $3.3 billion in cash to Japan’s SoftBank Group Corporation. His total earnings accrued from the sale of the company amount to $512 million. His net worth is valued at $945 million.However, Fortress Investment Group continues its business in New York City as an independent business corporation. It also retains Wes Edens, Randy Nardone, and Peter Briger as its core principals in a five-year contract.He is a widely recognized philanthropist who channels his time and funds to arts organizations, education, and health matters. He has actually donated over $2.6 million to charity.

Martha’s Vineyard Hospital, Macalester University College, and University of Florida foundation are some of the main beneficiaries of his charity work.Wes Edens is interested in politics, he is a close ally to the Montana Senator, Max Baucus. He has channeled over $270,000 to a number of political parties and aspirants in the United States. In addition, he is a trustee of the Chinook Charitable Trust organization.He is renowned for his ownership of the Bucks basketball team. He joined hands with Marc Lasry to buy the Wisconsin team from Herb Kohl at $550 million. The Bucks basketball team is now valued at $1 billion.He is involved in sports, business, and politics. He is also fascinated by horse riding and mountain climbing, he has climbed the Matterhorn and Mt.Kilimanjaro located in Tanzania. He has been married to Lynn Edens for a long time and together they have four children.

For Fortress Investment Group, earning awards and maximizing the investment potential for their clients has been a key to their success

Fortress Investment Group LLC has been quite the success story in the world of finance since its founding in 1998. Fortress handles alternative assets in private equity, credit funds, and liquid hedge funds. Fortress manages the assets of 1,500 plus institutional investors and also private clients. Randal Nardone is the Chief Executive Officer (CEO) at Fortress Investment Group. Mr. Nardone has been the CEO of Fortress Investment Group since 2013 and held the interim CEO position at the company since 2011. Fortress Investment Group is an investment firm based in New York City. Fortress was founded by Rob Kauffman, Wesley Edens, and Randal Nardone.In the past, Fortress Investment Group has been masterful at timing the spinning off of a few companies in a successful way. However, with Softbank’s acquisition of Fortress, the company had not been fully ready. CEO, Nardone had quipped about the deal that he had wished that Softbank had had the funds to make many of the other firms profitable for all stakeholders involved in this transaction.

Randal Nardone has had prior experience working for UBS. At UBS, Nardone was the managing director. Besides UBS, Nardone also worked at Blackrock Financial Management in the Principal role. Before Blackrock, Randal Nardone made partner and was a member of Thatcher Proffitt & Wood’s executive council. By having a law background and handling the CEO position at Fortress quite efficiently, fellow executives, Wes Edens, and Robert Kauffman were part of one of the firsts concerning financial firms. On February 9, 2007, Fortress was the first private hedge fund to become a publicly traded company.In 2017, Softbank Group Corp (SBG), purchased Fortress Investment Group for over 3 billion dollars. The purchase of Fortress Investment Group by Softbank did not change the status of executives like Wesley Edens, Peter Briger, and CEO, Randal Nardone. SBG is a financial firm based in Tokyo, Japan.Some of the assets that Fortress has in their portfolio include Brookdale Senior Living, New Senior Investment Group, Fortress Transportation, Rail America, Drive Shack, New Media Investment Group, and New Residential Investment.

Randal Nardone, one of the co-founders of Fortress Investment Group, is currently a director at Brookdale Senior Living, Inc., Alea Group Holding Ltd as well as Eurocastle Investment Limited. Presently, Fortress manages these companies as part of their corporate portfolio. Fortress Investment Group has received many awards over the years. Fortress was named the “Management Form of the Year” by HFMWeek in 2014. Institutional Investor recognized Fortress Investment Group as the “Hedge Fund Manager of the Year.” Institutional Investor awarded Fortress Investment Group with the “Credit-Focused Fund of the Year,” and the “Discretionary Macro-Focused Hedge Fund of the Year.”For the 2010 Winter Olympics held in Vancouver, British Columbia, Fortress Investment Group was the principal lender to help the Millennium Development Group build the village for the Olympic Athletes in Southeast False Creek, Vancouver, BC. Because of this investment, Fortress Investment Group ended up owning the village once the 2010 Winter Olympics was over.