In 2015, Fortress Investment Group begins the tedious execution of their strategic plan too close the Hedge Fund Business that has been producing slumping returns due to economic factors beyond the company’s control. The Hedge Fund Business once was one of the strongest and most viable parts of the Fortress Investment Portfolio. But, over the last few years, the hedge fund business has continued to struggle and continuously be the negative asset category within the portfolio and drive down the ultimate value of the company as a whole. The hedge fund business once managed $1.7 billion in assets, but currently only manages a little over $400 million due to the continued drops in value based on the underperforming assets within the fund.The Hedge Fund is made up of direct stakes in private companies and their projects and also other private equity firms that are not under the direction of Fortress Investment Group. Fortress will be establishing itself in a strong position by closing the hedge fund and continue to grow and increase value with the development of streamlined productive approaches to increase their assets under management.
In fact, Fortress currently has over $35 billion in assets under management and is continuing to provide strategic returns on investments for it’s over 1750 institutional and individual clients from around the globe. In, December 2017, Fortress was sold to SoftBank Group, a technology company that invests in strategic opportunities within the telecommunications, internet, and futuristic technologies. With the addition of Fortress, to the SoftBank Group portfolio, they are aligning themselves with companies that can generate substantial amounts of capital for future investments and create opportunities for them to separate themselves by expanding their reach over their global competitors. Fortress Investment Group is continuing to be run by their executive team and managerial staff that continues to provide high-level analysis and evaluation of strategic opportunities to invest in distressed and underperforming asset categories that produce extremely large returns on investment.By eliminating the hedge fund business Fortress is ridding themselves of the underperforming assets within their portfolio so that they can utilize resources more appropriately in areas that would generate success and potential profit.
Furthermore, their Credit Business continues to thrive under the leadership of Peter Bridger one of the founders and Co-Chief Executive Officer at Fortress Investment Group continues to provide extremely high-level leadership and expertise in the evaluation and capitalize on credit opportunities on a global scale. Peter Briger is also a current member of the Council on Foreign Relations where he serves admirably as a key asset for the education and strategic direction of the organization in global affairs and international monetary strategies. Also, Wes Edens who continues to serve as Co-Chief Executive Officer and leader of the Equity Business continues to strategically guide the company with high-level analysis and evaluation of potential opportunities to expand and grow the company’s vast portfolio. Wes Edens is also co-owner of the Milwaukee Bucks a successful franchise within the National Basketball Association. With the closure of the Hedge Fund Business, Fortress is continuing to position itself for extremely profitable results and returns on investment for its investors and partners.