Peter Briger Oversees the Transformation of Fortress Investment Group from Its Initial Position as A Private Firm, To Its Listing as A Public Firm, And The Firm’s Subsequent Return to Private Equities
Peter Briger has been a part of Fortress Investment Group’s headline-making success story over the past 20 years in the world of finance and investment. 2018 has been a particularly promising year for both Fortress and Briger as the firm transitioned from its status as a public traded firm after its $3.3 billion acquisition by SoftBank, one of the most powerful and influential financial conglomerates in the world. Experts in the finance world have termed the acquisition of Fortress by SoftBank as a bet on infrastructure. While we wait to see what the future holds for Fortress, it is undeniable that the firm is bracing for a promising and exciting prospect in the world of cutting-edge technology development, the realm of real estate, and in the space of private equity funds.
Fortress Investment Group has been making impactful strides under the helm of Peter Briger since its establishment in 1998. The firm was an assertive hedge fund in its earlier years. Its robust success brought about tremendous growth, and as a result, the firm established itself as the most sought-after financial partner and investor. After ten years of being in operation while witnessing unrivaled growth, Peter Briger led the Fortress to its IPO (Initial Public Offering) in the (NYSE) New York Stock Exchange. The listing on NYSE took place in 2007. A decade after Fortress Investment Group went public, Briger steered the firm back to private equities through the acquisition deal with SoftBank. The acquisition of Fortress by SoftBank was finalized in December 2017.
The details of the acquisition indicate that Peter Briger and his co-principals at Fortress Nardone & Edens will continue steering Fortress Investment Group. Fortress headquarters will remain in New York. Details published on the Financial Times indicate that SoftBank will have a representative in Fortress Investment Group’s board. Additionally, SoftBank agreed to a clause that states that it will not interfere with Fortress’ day-to-day operations. Fortress’ principals, Edens Nardone, and Briger have signed an agreement that states that they will be investing 50% of their after-tax proceeds earned from the acquisition of the firm by SoftBank back into the funds managed by Fortress.