Peter Briger: From Wharton To Goldman To Fortress, The Confidence Man

Peter L. Briger is current Co-Chief Executive Officer of Fortress and joined the company in 2002, following a 15-year-long career with powerhouse Goldman Sachs & Co. Initially, upon joining the Fortress team, Briger led the real estate and debt securities business division because at that time the company wanted to diversify its core activities in private equity. The genius that Briger brought with him to the company centered on his insight into market assets that no one else wanted. His long-time experience in Goldman Sachs’ Special Situations group—which he co-founded, had uniquely prepared him for his future role with Fortress. The Special Situations Group, which was notoriously secretive and tight-lipped about it’s very profitable dealings; has often been said to be the primary source of Goldman Sach’s profits both during and after Brigers’ heading of the division.

While still with the Special Situations group and at it’s height, Peter Briger and his colleagues heavily traded in global high-risk assets–like Thailand auto loans, troubled mortgages in Japan, an alcoholic beverage company in South Korea, commercial aircraft, and British plants. The strategy was always to acquire assets that had fallen into default with the main sources of capital. This could have been due to various factors, such as: economic instability, political pressure or any other reason that Goldman was able to capitalize on. Brigers’ group would hold onto those assets until the markets stabilized and they were then sold for a hefty profit. Buy low, sell high. It seems so simple, but the skillful execution and experience needed to succeed in these highly volatile deals require world-class investment skills. Peter Briger and his teams oversaw massive profits again and again.

Since leaving Goldman, the success of Peter Briger has not ebbed one bit. In the first quarter of 2015 alone, the Briger team successfully raised $ 4.7 billion for a new fund called “Fortress Credit Opportunities Fund IV”. That represented 87% of the total new funds raised by Fortress in that quarter.In recent years, Peter Briger found gold after the financial crisis and wryly once referred to his business as the “garbage collection of financial services” in an interview.Although the global financial landscape has more or less stabilized, Briger still sees a great opportunity to take advantage of ailing assets, especially in the financial sector. When he’s not overseeing massive business moves in his position as Co-Chairman with Fortress, Peter Brigers’ private time is devoted to more socially-conscious considerations—like serving on the board of Tipping Point, a non-profit organization serving low-income families in the San Francisco Bay Area; as well, as Caliber Schools, a network of charter schools committed to preparing students for success in competitive four-year colleges and beyond.

Winter Olympics & Fortress Investment Group Combine Forces

What has been the most international sporting event in the world? The Olympics. When the Fortress Investment Group assisted with the 2010 Winter Olympics, it added its name to a very distinguished club.

History of Olympics

It is not easy running an empire. At times, the diverse nations wonder what they have in common with one another. They might have the same military ruling over them, but what else unites them? Disunity was one of the reasons why the Greeks started the Olympics. Greece, in and of itself, is a collection of islands. It was difficult enough keeping the islands united, let alone a vast empire.While most might think of Greek yogurt today, Greece was the first European power. It borrowed some of its culture from Egypt. As the Greek empire spread out, it devised plans to assimilate nations into its sphere of influence.The Olympics allowed the best athletes to compete on a level playing field. The winners were celebrated at Mount Olympus in Greece. Sports allows for passions to be vented in a healthy fashion. Instead of planning rebellions and revolts, people could take their political and economic frustrations out on the playing field. The modern Olympics was brought back by the French in 1896. They also saw the benefit of using sports to unite people. You can see the same mentality with FIFA World Cup Soccer.

Olympics Politics

Unfortunately, politics has become ever more entrenched in the Olympics. People might think of the boycott of the 1980 Olympics as a moment when the global vision of unity was lost; but throughout history, it has been extremely political. One can think of the 1936 Olympics in Berlin.The Olympics are meant to be a time when the world forgets about their language, cultural and national differences. The proof of success is on the playing field. Track is the key contest. Everyone can see who the fastest man on the planet is.The Winter Olympics has become an adjunct to serve the Northern climes. It was only started in 1924. The Jamaican bobsled team was a cute fad, but it never amounted to much.Usually, the Winter Olympics is dominated by the United States, Canada, Russia and Scandinavian nations. Ice Hockey is the primary focus of the Winter Olympics.The Fortress Investment Group supported the Winter Olympics. The Fortress Investment Group had purchased some luxury skiing resorts in Canada and provided some of the funding for the building of the Winter Olympics athletic village in British Columbia.

Fortress Olympics

The Winter Olympics might have increased the prestige of the Fortress, so it could be bought out by SoftBank. SoftBank thought that the Fortress Investment Group could be part of a Global Vision to Unite the World. The Fortress had epitomized the spirit of the Olympics.

Source of the article : https://whalewisdom.com/filer/fortress-investment-group-llc

Something Old, Something New, Something Borrowed is Fortress Investment Group Plan

No one wants to give away his secrets, but eventually you can identify patterns. A good example is the Fortress Investment Group. Is the secret to Fortress Investment Group success – “Something Old & Something New & Something Borrowed?”

Buying Old Railways

Some people want to invest in what’s glitzy simply for the sake of having the in thing. It may be valuable today and worthless tomorrow. But, that isn’t how wealth is built.You might see a soccer player make a bicycle kick goal and everyone comments. Was this the first bicycle kick ever? No. So, what is the big deal? Then, the stock for bicycles might increase dramatically. But, that is not how the Fortress Investment Group gauges value. It looks at long-term value from real assets.The Fortress Investment Group has a duty to its shareholders to add real assets that are necessary for global production. That is why the Fortress has invested in boring railroads.There was a time when railroads were exciting. They were the supersonic jets of today. But of course, technology has been upgraded and many tracks are rusting.The Fortress Investment Group has invested in these rusty old relics. Some might think that these have seen better days. But, Fortress thinks otherwise – merchandise must reach the stores and the Florida East Coast Railway still has value.

New IPOs

While other firms do not have the capital or expertise to make the old railways valuable, Fortress does. Its business model includes taking an old dilapidated asset, cutting off the rusty portions and polishing it for resale. These new IPOs receive the attention of the top institutional investors. Due to the growth in American wealth, there are numerous institutions brimming with cash, which needs to be invested. Fortress provides them with new investments to wet their whistle.The IPO might be for railways, senior living, casinos or resorts. Fortress has a nice variety of assets under its umbrella. With the SoftBank acquisition of the Fortress Investment Group, some Asian assets might be added to the mix.

Borrowed Funds

It is difficult to imagine Capitalism without borrowed funds. For some reason, the banks seem central to the entire equation. Some people create startups on their own credit cards, but that is few and far between. The Fortress Investment Group borrows funds to make its purchases. The shareholders and bond holders provide the money. They hope that Randal Nardone and company will deliver ample profits. Some businesses are simply cash-intensive and cash-poor. Others require a large overhead expenditure to maintain their operations. No matter how you slice it, the Fortress Investment Group will always have a valuable duty to perform because its capital will always be needed. The Fortress has a solid strategy. It buys cheap old undervalued assets. It turns them into new IPOs that compete in the modern world. It uses borrowed funds to make this a reality. The Fortress executives have learned their lessons well.

Fortress Investment Group Co Founder Wes Edens

Wes Edens is a billionaire entrepreneur and finance executive. He is the co founder and principal of the private equity investment firm Fortress Investment Group. Over the course of his career, he has been heavily involved in managing a number of financial services firms. During his career, he has demonstrated leadership that has allowed the firm’s he has worked at to thrive on a consistent basis. Recently, Wes helped facilitate a key acquisition with the company known as Japan Softbank Group Corporation. This helped the company increase its overall value to $140 million. His expertise and guidance helped ensure that this key deal was completed.

When the recent acquisition was completed, the company’s shares rose to $8.08 which were only $2.25 per share before the deal was completed. As a result, Wes was responsible for making the company a lot more valuable and profitable for investors. On a regular basis, Wes spends most of his time managing his investment firm Fortress Investment Group. The firm is the first publicly traded private equity firm in the United States. Along with being a financial services company executive, Edens is also involved in professional sports. He is the current co owner of the Milwaukee Bucks National Basketball Association team. Wes is also the owner of Flyquest which is a team that participates in an electronic sports league. Prior to entrepreneurship, Wes Edens attended college in Oregon. He would complete a bachelor’s degree in finance and business administration at Oregon State University in the year 1984.

After completing college, Wes would start his career working at Lehman Brothers in 1987. While working at this firm, he would eventually become the firm’s managing director until 1993. After his stint at Lehman Brothers, Wes would then work at the private equity investment firm known as Blackrock Asset Investors. At this firm, he would serve as both a partner and a managing director. Edens looked to make a change in his career after working as a high level executive in the financial sector. He would meet with four other individuals to start up a private equity financial services company. This resulted in the founding of Fortress Investment Group. Under his leadership, Wes helped build the firm into one of the leading private equity investment management firms in the entire world. After the recent acquisition by Softbank Corporation, Edens still spends most of his time overseeing the daily operations of the firm. learn More.