Fortress Investment Group, one of the world’s largest alternative asset management firms.Fortress Investment Group is a global diversified management company that was founded in 1998. Headquartered in New York, it is one of the world’s largest alternative asset management companies globally. It was established by Wes Edens, Robert Kauffman, and Randal Nardone. The firm operates in private equity, credit funds, and traditional asset management.It began with just $400 million in capital investments in 1998 but 2 decades later, the firm is now responsible for over $71billion alternative assets in private equity. The company also has over 2500 employees and serves over 1700 clients globally. It also has subsidiary offices in London, Dallas, Los Angeles, Singapore, Shanghai, and Rome.The firm selected Daniel Mudd as its chief executive officer in 2009.Later that year, it was enlisted in the New York Stock Exchange. The firm started offering income asset management services in the year 2010.
Following the voluntary resignation of Daniel Mudd in 2011, Fortress Investment Group’s co-founder Randal Nardone was appointed as the interim Chief Executive Officer.Since its inception, the firm has experienced some managerial changes. Michael Novogratz joined it in 2002 as a fund manager before leaving it later in 2015 to pursue other interests. Peter Bridger was also brought on board as a principal. The firm played a very important role in the 2010 winter Olympics. It was the core lender to Millennium Development Group in building the over $875 million athlete’s village in British Columbia.The firm does asset-based management through private equity and credit funds. It deals with both physical and financial assets. Real estate, capital, and financial vehicles are the major assets that Fortress Investment Group services.
Its specialty in pricing, owning and financial management makes it the firm of choice for many clients. In its 20 years of operation, the firm has gained corporate mergers and acquisition skills. Its board members and other stakeholders have profound capital market experience. They are able to determine the low cost and low-risk financial decisions when doing an investment. The firm also houses some of the best-skilled employees in operations management. In January 2018, Wes Edens confirmed the sale of Fortress Investment Group to Japan’s SoftBank Group Corporation. The firm that started with $400 million was now being sold at a hefty $3.3 billion in cash. However, the firm retained its headquarters in New York City. It also held Wes Edens, Peter Briger, and Randal Nardone as its principals in a five-year contract.
Equities First Holdings has recently completed its first UK transaction. EFH, which specializes in stock loans to high net worth individuals, has provided financing to several AIM (Alternative Investment Market) companies and executives. Andrew Newland took out $2 million in financing against his shares of his biotechnology company Angle PLC. Newland recently bought back his shares, although other AIM entrepreneurs have not done quite as well. Rob Terry of insurance outsourcer Quindell opted not to buy back his shares due to the share prices taking a big hit. Edi Truell of invoice firm Tungsten currently has an outstanding loan which he hopes will turn out to be a profitable deal.
EFH has 14 years of experience in providing securities-backed financing to individuals and businesses. Most loans are non-purpose, so they provide a great deal more flexibility than bank loans and other traditional financing options, and their deal-by-deal operational style means that each client gets a customized deal that meets their needs. Their stock loans also allow for a much higher LTV ratio than with banks.With EFH’s recent acquisition of London-based Meridian Equity Partners.The firm has become a truly global investment company, giving investors and companies around the world an alternative way to raise capital as traditional lenders adopt more restrictive criteria.
The firm boasts offices in Indianapolis, London, Singapore, Thailand, Hong Kong, Melbourne, Perth, and Switzerland. According to founder Al Christie Jr., in addition to stock-based loans providing easier qualifying, these types of loans also provide a kind of hedge if the market declines. In most cases, these loans are non-recourse loans, meaning the borrower can walk away at any time in the event of a loss. Stock loans can be preferable to margin loans as margin loans can be called in at any time and often require qualification and LTV ratios along the lines of a conventional bank loan.
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