How Fortress Investment Group Came to Recruit Briger.

Fortress Investment Group is a company that has led the investment industry for many decades since its foundation. It was formed by its three founders who had the intention of inventing an exceptional kind of company that would aid in consolidating investment funds from private equity and then reinvesting it in cutting edge asset strategies. This was meant to enable the company to generate cash flow that was long-term. Fortress Group was then started with private equity as the only strategy that the firm managed. Success followed the company immediately after foundation, with the value of its assets under management skyrocketing within a short period. However, the founders of Fortress Investment Group felt that the growth of the company at that time was not yet high enough.

They held numerous board meetings trying to figure out how they could improve the growth rate.The ultimate solution that they got from their brainstorming sessions was to diversify their portfolio under management.However, they had a challenge; they didn’t have enough expertise to manage the some of the asset strategies that they wished to incorporate into their existing portfolio.This is how they came up with the idea that would later come to turn the tables for the company. In 2002, Fortress Investment Group hired Peter Briger, who had a long working experience from Goldman Sachs Bank. Briger’s main area of specialization was in the management of credit funds, hedge funds, real estate and distressed debts. With all this expertise, Fortress Investment Group had a jackpot on board.

The extensive knowledge possessed by Briger was not only from the bank experience but also numerous pieces of training that he had undergone while still working for Goldman Sachs.Things started taking a new direction for Fortress Group immediately after having Peter on board. The first impact that the company experienced was the transition from being an “equity-only” firm and now began managing other investment strategies for its clients, e.g., real estate, liquid markets, hedge funds and traditional asset management. This saw Fortress Investment Group’s asset portfolio shoot in value, something that left many tongues wagging.

Wes Edens: Charting A Course For E-Sports

Wes Edens has shown a consistent ability to leverage every platform that has been made available to him. This is a talent that he has demonstrated ever since he graduated from Oregon State University back in 1984.He has made his way through the ranks and got his start at the famed Lehman Brothers firm, where he would eventually become a managing director and a partner. After spending six years working with Lehman Brothers, he would then make his way to BlackRock Asset Investors. Four years later, Edens would make the move that would eventually serve as the springboard to the role that we know him best for today.

In 1998, he and four other principal partners founded Fortress Investment Group.It was at this time that he truly began to make a name for himself in this sector. As a man who believes in the power of contrarian betting, this is an ethos that he carried with him each and every step of the way. Before long, Fortress Investment Group had been built into one of the most reputable companies in its sector and the investment group would eventually be traded publicly. Wes Edens would soon use the knowledge that he gained working for Fortress Investment Group to become an NBA owner. When Herb Kohl finally decided that he was ready to sell the team to the highest bidder, Wes Edens and Marc Lasry submitted the winning bid. It did not take long for the duo to see a major return on their investment.

The franchise, which was valued at $550 million when the men decided to make their purchase, is now worth over $1 billion.Now, Wes Edens is looking to make inroads in a different area of the sporting world. He is already making a splash in the e-sports area.After purchasing his own League of Legends team in hopes of taking advantage of this brave new world, Wes Edens then decided to purchase an entire league for his team to compete in. Once the NBA elected to start their own NBA 2K league for professional console gaming, Wed Edens was one of the first owners to make a significant financial pledge.With the NBA poised to make a major splash in the world of professional gaming, Edens is making a massive bet as well. If his track record of continued success is any indication, he will experience the same return on his investment that he has been able to enjoy at every other location.

Famous Financial Executive

Kenneth Griffin is one of the youngest and most successful hedge fund managers in the investment capital industry. Acting as the CEO of Citadel, Ken Griffin has won numerous industry awards for his prudent and successful investment style as a hedge fund manager. Unlike many of his contemporaries, Kenneth accumulated initial investment for his hedge fund by taking loans from his family.

Early Career

At first, he was only able to raise $265,000 for the hedge fund. Despite the relatively small amount of capital, Ken Griffin was determined to succeed by investing in funds that were less risky. Perhaps, his success is attributed to the safer investment style because many of his close associates lost billions of dollars in 1987, when the stock market crashed. On the contrary, Kenneth Griffin was only among very few hedge fund managers who were able to survive using intuitive techniques. For instance, Kenneth installed a satellite link at his home to get the real-time market data enabling him to proactively react to changing market conditions. In 1987, he was only managing under $1 million US dollars that included investments from his friends. However, his success during the stock market proved his prudent investment style, which also proved instrumental in getting additional capital for his hedge fund.

Initial Success

Just one year after the stock market crash of 1987, Kenneth was able to acquire $1 million from another well-known investment manager, Frank Meyer. Frank trusted Kenneth Griffin because Kenneth had proved his mettle by stabilizing his investments during the crash of 1987. In fact, Kenneth exceeded expectations of Frank Meyer by returning over 70% of the initial investment in the first year. Building on his success, Kenneth started his own investment capital firm after graduating from Harvard in 1989. The new firm, Citadel, was built from $4.6 million dollar employing less than 10 employees. However, in just eight years, Citadel raised more than $1 billion dollars becoming one of the most successful hedge fund firms. At the time, it employed over 100 employees and Kenneth Griffin was regarded as one of the most influential people in the world of finance.

Top Financial Firm

By the start of Millennium, Kenneth was already regarded as one of the foremost financial advisers who frequently appeared in the coveted list of Forbes and Fortune magazines. By 2015, the capital investment firm, Citadel, is also regarded as the most successful firms in the hedge fund industry. In reality, the success of Citadel is attributed to the financial acumen of Kenneth Griffin and the induction of friendly culture within the company. In March 2015, Great Places to Work Institute included Citadel in the list of top companies to work for. The positive attitude of Citadel employees is attributed to numerous perks, work-life balance, and social activities. Apart from his personal success, Kenneth Griffin also contributes heavily to philanthropic cause. Kenneth has also donated more than $500 million dollars for various social causes. It also included $150 million donation to his Alma-matter, Harvard University, which was the largest ever single donation at that time. He continues to reside in Chicago overseeing investment activities of Citadel.