Fortress Investment Group Crosses Borders With Its Innovative Products

Fortress Investment Group was founded in 1998 as a private equity firm with a focus on alternative assets. The firm has grown fast to become one of America’s largest private equity firms. Indeed, due to the fast growth the company has experienced over the past few decades, it has attracted the attention of such giants as SoftBank. Fortress Investment Group is led by Peter Briger, Wes Edens, and Randal Nardone. The company runs assets on behalf of over 1750 private and public entities. It has over $43 billion worth of asset investments under its care. The company has even spread its wings to Canada and other parts of the world. It has continued to attract clients because of its successful portfolio in managing risks in business. It has also succeeded largely because of its diversification strategy.

Brief on Fortress Investment Group

Fortress has a successful portfolio that is a product of the daring moves that its principals and the CEO have made. As mentioned earlier the company is run by three principals at the helm. Randal Nardone and Wes Edens ply their trade from New York, while Peter Briger is based in San Francisco. The company has its headquarters in New York City. Fortress specializes in asset management but it has diversified its services to include financial advisory services including investment consultancy. The company was the first such large private equity firm to trade on the New York Stock Exchange; with its IPO that was trading in 2007. Fortress Investment was founded by Wes Edens, Randal Nardone, and Rob Kauffman. Peter Briger became a partner and principal a little later.

Fortress in Canada

It came as a shock to many Canadians that Fortress Investment Group had threatened that the Winter Olympics of 2010 would not be held unless t was paid its dues for the intended use of Whistler Blackcomb Resort and the British Columbia Ski Resort that was slated to be used for alpine events. The company had quietly bailed out Intrawest a couple of years before the games were to be held and agreed with Intrawest that it would take over the management and running of the outlets until the situation normalized. The agreement was to the effect that Fortress would be in charge of the two outlets until Intrawest settled the debt. Well, Fortress nearly had its day. It was headed to court to stop the games from being carried out. Fortress management did not relent until the games’ organizers paid up.

Fortress Has Been Purchased By Softbank

Owing to the increasingly attractive financial profile that Fortress has developed over the years, it recently attracted the attention and interest of SoftBank. Softbank is a giant software developer for the current and next generation. The Japanese firm recently concluded talks on the purchase of Fortress. According to the details that have been made available, Softbank purchased Fortress at $3.3 billion. The two companies confirmed the deal; with Fortress on its part clarifying that their shareholders had given them consent regarding the transaction. Fortress remains Independent in operational terms but its financial report will be incorporated with that of SoftBank at the end of each financial year. Fortress shares have been pulled out from the NYSE and the same transferred to Softbank ownership. SoftBank to Buy Fortress Investment Group for $3.3 Billion

 

Glen Wakeman’s contribution to early-stage businesses.

Glen Wakeman is the CEO of LaunchPad Holdings, LLC. He has indeed made an impact on the business world. He is an investor, businessman, mentor, and writer. He is the founder of LaunchPad Holdings, which helps start-up companies to make adequate plans that lead to success. The company develops software that enables natural planning of early-stage businesses and entrepreneurs. Wakeman has spent his life helping people succeed. He ensures that people in business achieve their goals and ambitions. He pursued his degree in bachelor of science in economics and finance from the University of Scranton, Pennsylvania and later did his MBA in finance from the University of Chicago.

The co-founder and CEO of LaunchPad Holdings got a job position in General Electric Money Latin America in 1983.This proved to be the start of his career that would span the globe. He developed a nine-country operation from a small startup during his time at General Electric Capital Latin America. During his tenure with the said company, he got vast experience, skills, and knowledge. These were what he used to start his own company which has been successful for years. He has had leadership roles and board positions in several companies (http://releasefact.com/2018/02/glen-wakeman/). For instance, he was the chairperson of Nova Four; a company that helps early-stage businesses. Glen Wakeman has helped many entrepreneurs in the development of small business. He has been the reason behind the success of many companies.

Glen Wakeman mentors about strategies and financial plans for new businesses. Some of the elements that he helps entrepreneurs with are; leadership, execution, risk management, and governance. With these elements, he had a foundation that can be used by entrepreneurs. Glen Wakeman works as a consultant. He is capable of scrutinizing a company and knows where corrections should be made for better performance. He is also a blogger who writes about his view on international matters, business markets, and management.

Glen Wakeman in a recent interview said that the machine learning technology is an exciting trend. His day to day activities is; service performance, sales and cash totals, conferencing and research on current business activities like customer trends and reviews. Wakeman says that curiosity is what makes him a productive entrepreneur. He recommends reading “The Art of War” by Sun Tzu.