Fortress Investment Group LLC is on the verge of entering into corporate lending as it prepares to under SoftBank Group Corp.’s ownership. The matter is privy to a few people who said the company aims to raise around $2 billion for its initial fund dedicated to direct lending. For the firm’s fifth, flagship credit opportunities, it is targeting $5 billion, the exact figure with which it closed the fund’s most recent itineration in 2015.
Peter Briger, Fortress Investment’s co-chairman, and the principal has served the firm under several management positions. Since 2002 when he joined Fortress, he has been a member of the Management Committee. He created the Fortress credit business which he now oversees, and the firm currently has over 300 employees and focuses on distressed and illiquid credit investments as well as undervalued assets.
Besides working at Fortress, Peter Briger sat on the Princeton University Investment Company’s Board of Directors. He obtained his bachelor of arts from Princeton University and got his MBA from University of Pennsylvania’s Wharton School of Business. Peter, alongside two Princeton’s alumni, established a pilot funding program aimed at helping recent alumni entrepreneurs with their startup firms. Briger has also funded a Princeton professorship and serves in caliber schools.
To further his philanthropic endeavors, Peter is on the board of Tipping point which is a non-profit organization that helps low-income families. He also serves on the Silicon Valley Leadership Council for the Global Fund for Children. Peter Briger is a Council of Foreign Relations’ member, an organization that promotes the broader understanding of issues related to foreign policy among elected officials and citizens.
Peter Briger was the co-founder of Goldman’s Special Situations Group in 1997, a group which sometimes gets the credit for being the primary driver of Goldman’s revenue in the past decade. He worked at Goldman, Sachs, & Co for 15 years and became a partner in 1996. While at Goldman, Peter was on several committees including Japan Executive Committee and the Asian Management Committee. He held various leadership positions such as being the co-head of the Asian Distressed Debt business and the Special Opportunities (Asia). Fortress Executives to Cash In $1.39 Billion From SoftBank Sale
Peter Briger views Bitcoin as a digital gold and a cheaper method of money transfer. During a meeting with a Wells Fargo executive, Peter added that America lacked a Bitcoin regulated Exchange as they discussed how to create the first Bitcoin controlled exchanges worldwide. A Force of Innovation: Two Decades of Fortress Investment Group