Fortress Investment Group 20 years later

Fortress Investment Group (FIG) was found 20 years ago in 1998, by Wes Eden, Randal Nardone, and Rob Kauffman. The three founders sought to create an investment firm, who would take a unique approach to investment. Fortress Investment Group would take investment funds from private investors and reinvest the funding into technology-based investment opportunities. Fortress now has a highly diversified portfolio including investment management, special services, property management insurance and risk management and consulting.In 2006 Fortress acquired in shares Canadian Ski Resort and RailAmerica at $ 16.35 per share.

The very next year Kauffman, Nordone, and Eden on February 9th, 2007 took Fortress public, making the investment firm the first ever buyout firm to go public.The initial public offering of Fortress stock was $ 35 and the company was only valued at $ 18.50 per share. In the same year, FIG bought Florida East Coast Industries (FECI), for $ 3.5 billion.In 2010 FIG was named “Credit-Focused Fund of the Year” and again the following year in 2011. In 2012 FIG was named Discretionary Macro Focused Hedge Fund of the Year. In 2014, HFMWeek, named FIG both Hedge Fund Manager of the Year and Management Firm of the Year.

By this time, FIG focused on four areas of investment: liquid markets, private equities, asset management, and credit markets.December 28th, 2017, the Japanese investment firm, Softbank Group Corp purchased Fortress Investment Group for $ 3.3 billion. The acquisition came 10 years after FIG’s IPO. Softbank Group purchased Fortress Investment Group for $ 8.08 per share. While FIG was acquired by Softbank, it will still operate as an independent company working in New York City within SoftBank’s headquarters.Wes Eden and Randy Nardone are still actively running the day to day affairs of FIG, Rob Kauffman retired to pursue his dream of car racing.