The current Chief Executive Officer Randy Nardone along with Wes Edens and Randy Briger founded Fortress Investment Group (FIG) in 1998. The three principals back in 1998 wanted to take an alternative approach to invest. Fortress creates investment opportunities by leveraging capital and using it to invest in technology companies, this approach is the genesis of alternative-asset investing. The alternative-asset investing approach of Fortress lead to extremely fast growth and was able to propel the hedge fund to become the first such firm to be listed on the New York Stock Exchange (NYSE).
FIG launched its first investment fund portfolio in 1999, which was compromised mainly of real estate investments under the name if Fortress Investment Fund I. Fortress Investment Fund I would eventually lead to version II, III and IV along the way expanding to include other sectors of investment opportunities. From the time of the launching of Fortress Investment Fund I in 1999, by 2006 the firm witnessed an almost 40% increase in growth. During this time of rapid growth, FIG added Michael Novogratz as the new hedge fund manager. It was in 2006 also, that FIG initiated the acquisition of RailAmerica Inc. FIG acquired RailAmerica for a little more than $16.35 in shares which were finalized in February 2007. Two years later FIG would sell RailAmerica by making shares available to the public via an IPO. That same year FIG would purchase Florida East Coast Industries (FECI). FECI is the parent company of Florida East Coast Railway the deal was valued at $3.5 billion.
FIG is an industry leader in high diversified global investments, responsible for managing $36.1 billion in assets. Fig is responsible for managing assets belonging to almost 2000 clients. FIG continues to hold and manage a highly diversified portfolio containing many firms around the world. FIG’s portfolio contains notable names such as Green Tree Servicing LLC, Holiday Retirement, Nationstar Mortgage LLC, Springleaf Financial, and RailAmerica,
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