In 1998 when the private equity firm Fortress Investment Group began and they already were setting trends to be copied by all forms of business institutions.As of today the global investment manage firm that started with 400 million dollars of initial investments and it now has a whopping 43 billion dollars of assets in private equity hedge funds and other forms of investment. Experts from Lehman Brothers and Goldman Sachs have taken their financial knowledge and poured it into Fortress Investment Group they have now taken this company from just an equity firm to initial public offering IPO. The company launched its 1st investment called Fortress Investment Fund I in the year 1999 and most of its investments were in the form of real state within the New York and Toronto markets.
In the 1st 5 years they were able to take their initial investment of 400 million to 3.9 billion dollars and then by the year 2007 earned 32.6 billion dollars. The reason for such expansive growth was because Fortress Investment Group’s 1st fund was actually able to expand into 3 additional Fortress Investment funds as well as several other investment funds. It was also attributed to the growth of the company in the year 2002 added Michael and Peter joined the organization for leadership purposes. Both had years worth of experience with Goldman Sachs and work in other countries.In addition to adding new team members to Fortress Investment Group they also were able to acquire new investment properties such as a large ski resort operator in North America, Rail america, Florida East Coast industries, and Penn national gaming just to name a few.
As of 2007 it became one of that group’s biggest years we see them finally take stage as an IPO becoming in the United States the 1st hedge fund to launch as a high priced IPO.Being the 1st of its kind to go public r drastically increased the publicity for Fortress Investment Group and later are companies following suit such as a Netflix. This only increased Fortress Investment Group’s investment vehicles and over the next decade they were able to create even more fund opportunities including a fifth addition to the original Fortress Investment Group fund. As their popularity, prestige, and wealth rose Fortress acquired AIG’s American General Financial and began opening headquarters to grow in the United States and abroad in places such as Asia in shanghai in Singapore. FIG is truly a investing force to be reckoned with.