Investing for short and long term may seem easy at the outset, but when it comes to investing billions of dollars, there is a lot of risks and future projection involved. The companies that maintain hedge funds and offer investment management services have dedicated research and analytics team that works round the clock to predict market movements. It is necessary for the investment managers to be able to speculate which direction the markets would be moving to ensure that the clients’ money and investment goals are safe and met respectively. It is not an easy thing to do when handling hundreds of millions, because markets are unpredictable, especially the equity markets. However, by diversifying the investments and ensuring that the investments are monitored closely, the financial security and objectives can be achieved with ease.
One of the most successful investment firms in America today is Fortress Investment Group. The company was set up in 1998 and has its head office in New York City. The founder of the company is Wes Edens who is a graduate of the Oregon State University. He has a degree in Finance and Business Administration. His first job was with the Lehman Brothers where he was a partner, and also it’s MD. But, later he joined a start-up with the name Black Rock and helped the company become successful in a matter of few years. He then left the company to develop his own investment firm, Fortress Investment Group. He wanted to use his skills and knowledge to grow his own wealth rather than work as an employee for other investment companies.
Within a few years after its inception, Wes Edens was able to grow the assets of the company by a massive 40%. Wes Edens has a unique management system in the Fortress Investment Group. The company follows a flat organization structure that allows its members to communicate with each other openly. Wes Edens believes that the employees have to be treated well if anyone wants their organization to grow. A company is made by the employees working there and not the other way around. The company believes in providing the best pay structure and benefits to its employees so that they are able to provide the best environment where they can flourish in their careers. Wes Edens has always believed its employees to be an asset and ensures that everyone gets an opportunity to grow.
Fortress Investment Group came out to the public stock exchange market for the first time in February 2007. The initial public offer (IPO) made Peter Briger Jr. an official dollar billionaire. All his shares were at the time worth a total amount of $2 billion. Briger Jr. had a total of 66 million shares in Fortress Investment Group which is currently a publicly traded company on the New York Stock Exchange. Unfortunately, there was a recession for the high water mark for Mr Briger. As of 2018, Fortress Investment Group’s shares have decreased exponentially to 74% since the initial public offer. Briger only owns about 44 million of the shares in the company which are worth just over $350 million. Briger remains an elite player of personal asset investment in the shadows despite the significant hit to his net worth.
In this article, we are going to illustrate how Briger ascended to the top of this secret corner in the world of asset investment. In 2002, Briger joined Fortress Investment Group after spending over 15 years at Goldman Sachs. Briger joined the team at Fortress to lead the debt securities and real estate businesses. This was at a time when the company was determined to diversify from its primary business of private equity. Today, Briger serves as the co-chairman of the board of directors and as the Principle of Fortress Investment Group. Peter Briger’s wealth has been built on his expertise to trade stocks and assets that are not attractive to investors. For many years, Briger has specialized in distressed debt. His expertise in distressed debt was put on display after he co-founded the Special Situations Group at Goldman Sachs.
This was back in 1997.The group was famous for its incredibly secretive operations which yielded trades that were highly profitable. During the past decade, Goldman’s Special Situations Group has received credit for being the core driver of the company’s revenue. Just to tell you how this group has been successful, Goldman Sach’s co-founder left the company back in the year 2007. Mark McGoldrick said that he was he was Getting more returns as compared to his $70 million annual salary at Goldman Sachs. During their peak days at Goldman Sachs, McGoldrick, Briger and their colleagues purchased and sold troubled mortgages in Japan, car loans in Thailand, commercial aircraft, a South Korean beverage company and a British power plant. The idea in all these endeavors was the purchase of assets that were not attractive to the majority of the investors.