In 1998, three ambitious entrepreneurs established an investment management firm, calling it the Fortress Investment Group. The founders, Randal Nardone, Rob Kauffman, and Wesley Edens, wanted to create a company that would give them the highest profit, and they thought of establishing the company because according to their research, an investment firm wields the biggest revenue. Before establishing the company, the three entrepreneurs had to conduct studies on how they can become successful in the field of managing investments. They decided to locate their headquarters in New York City, because of its reputation as the global headquarters for a lot of companies. The Fortress Investment Group wanted to take advantage of its proximity to major companies based in New York City, and according to its founders, it would make it easier for them to find clients in America’s largest city.After news of the company’s establishment was reported, investors are bullish to put their money at the Fortress Investment Group because of its unlimited potential.
Randal Nardone, Rob Kauffman, and Wesley Edens welcomed all of the investors who wanted to invest in their company, and they helped them in making their money grow. Confident that they could also do well in the stock market, the founders introduced the Fortress Investment Group to be traded publicly. It became available at the New York Stock Exchange in early 2009, and because of the effort from its founders, the company was recognized by experts as one of the largest private equity firms to be available for public trading in the United States. Through the years, the Fortress Investment Group managed to build a positive reputation for their clients, and the amount of assets that they are managing is currently at $70 billion. This amount includes a lot of investment options, and Randal Nardone, Rob Kauffman, and Wesley Edens stated that they are still welcoming new investors who would have to have their money grown.Since becoming publicly traded, the Fortress Investment Group has seen tremendous growth on their end. The private equity fund received a growth of 39.7%, which is considered as record-breaking.
Experts agree that the leadership of Randal Nardone, Rob Kauffman, and Wesley Edens will bring a lot of positive changes for the Fortress Investment Group. Unfortunately, during the financial crisis in the year 2009, the Fortress Investment Group was stricken by the collapsing market. They had to think for alternatives that would save the company from complete bankruptcy. The founders had to brainstorm what options they could choose, and they immediately diversified the company’s investment. The Fortress Investment Group went back on track and was given several awards in 2010.In 2010, the Fortress Investment Group had to step up concerning an issue surrounding the 2010 Vancouver Winter Olympics. During the preliminary planning for the 2010 Vancouver Winter Olympics, a company called the Millennium Development Group showed their interest to build the athlete’s village. However, they declared bankruptcy shortly before the games began, and the government of Vancouver had to partner with the Fortress Investment Group to continue building the village. In the end, the Fortress Investment Group was awarded the ownership of the newly constructed Olympic village in Vancouver.