Fortress Investment Group is a financial services firm. It was founded in New York City and it invests in private credit, private equity, real estate, and other alternative investments. It was established on January 1, 1998, and now has over 1,500 private clients and institutional investors as customers. They have over $70 billion in assets under management.
Once publicly traded, this company is now wholly owned by SoftBank Group Corp. They were purchased for $3.3 billion. Fortress Investment Group’s three principals are Randy Nardone, Pete Briger, and Wes Edens. All three of these individuals agreed to continue in their roles at this company after this transaction was completed. The entire senior investment management team also remained in place as well. SoftBank stated that they were committed to this company’s management tea, brand, culture, business model, and everything else that has made it successful.
Fortress Investment Group owns commercial real estate properties around the nation, such as the Alabama Inverness Corners retail center and several buildings in New York City. they recently bought the Tiffany & Co. building which is located on Palm Beach, Florida’s Worth Avenue. Fortress Investment Group bought the building for $20 million which works out to $1,221 per square foot. The listing agent for this property indicated that this building had been expected to have a $40 million price tag. To know more about the company click here.
This company also owns businesses in the transportation industry. Fortress Investment Group bought Florida East Coast Industries back in 2007 for $3.5 billion. This company’s subsidiary, All Aboard Florida, is hard at work developing a $3 billion high-speed train service in South Florida. This train service is called Brightline and it currently runs between Miami and Orlando. The line will include the Miami Central Station which includes many offices, retail stores, homes, and restaurants. This station will be completed by the end of 2018.