Being a highly recognized, award-winning hedge fund is no easy accomplishment. This is why many in the investment and finance industry have kept their eyes on Fortress Investment Group, which was recently purchased by SoftBank Group Corporation for $3.3 billion. The acquisition made it the first publicly traded hedge fund to be acquired.
People behind the business
However, a successful firm is not just a lifeless business model. There are actual talented people fueling the success of Fortress Investment Group. Most notable are the three founders, Wes Edens, Randal Nardone and Rob Kauffman. Only Kauffman has since retired, while the other two founders remained involved in the management of Fortress. Learn more about the organization of Fortress at crunchbase.com
As one of the three founders of Fortress Investment Group, Wes Edens brings a sense of leadership and a resume that not only includes experience in finance but also the professional sports industry. Edens has been involved in the professional sports industry since 2014 when he acquired the Milwaukee Bucks. He purchased the NBA team for $550 million.
Edens is also owner of FlyQuest which is a League of Legends team. FlyQuest is currently backed by Fortress Investment Group as it competes in the Northern American League of Legends Champions. Additionally, as owner of FlyQuest, Edens also financially backs eSports.
His approach to investing is characterized by looking for instruments which have been under some type of distress or has been out of favor by capital markets. Edens does not shy away from complexity. He is known to be able to apply comprehensive analysis in order to obtain returns from investing in fluctuating environments which are usually seen as challenging.
After becoming a founding member of Fortress Investment Group and a part of the firm’s Management Committee in 1998, Randal Nordone became the CEO of Fortress in 2013. Prior to officially taking the reins, Nardone was the interim CEO for more than a year. Before founding Fortress, he worked as managing director for UBS. Additionally, Nardone was a principal for BlackRock Financial Management.
More information about Fortress: https://www.fortress.com/about