Effective asset management calls for top notch organization and detailed planning and these are qualities Fortress investment is all familiar with, thus the firm’s success does not come as a surprise. Fortress investment group, popularly referred to with its acronym Fig, is a global investment management company headquartered in New York. The company invests in a long string of profitable areas such as private equity and credit funds but excels most in traditional asset management and liquid market funds.
A brief overview of Fortress investment group
The firm has been around for quite some time now as it was established in 1998 by a group of financial experts led by Wes Edens. Thanks to their knowledge in how the finance industry works, the company amassed a tremendous rate of growth and by the time it was eight years old, FIG had increased its asset base by 40%. It was however publicly traded in 2007 after it held its first initial public offering and became part of the NYSE.
Even with all the success, no one knew what lied ahead and it would not be long because, in 2008, FIG suffered its first major drawback. Nevertheless, that does not come as a surprise because business is quite dynamic and even the slightest changes have the power to break a firm. In respect to that, FIG’s journey to success has not been always a smooth ride because it was affected by the 2008 financial crisis too that led to one of its founders being cites as one of the biggest financial losers. This crisis crippled the firm’s ability to finance the 2010 winter Olympics and the city of Vancouver had to take over the project.
Nevertheless, with such a strong management team, the world was certain that it would get back to its feet and true to that it was again on the rise and since then it has never looked back. Since then, Fortress investment group has seen massive success and has even be recognized by various prominent business publications such as the Institutional investor magazine which recognized FIG as the hedge fund manager of the year in 2014.
Today, Fortress investment group prides itself on a wide clientele base as it serves over a thousand institutional, corporate and private investors in the various sectors it operates. It also boasts assets worth over $36.1 billion under its management and currently has affiliate offices spread out across the globe in major cities such as Hong Kong, Los Angeles, Singapore, Italy and various others.
For the company, the sky doesn’t seem to be the limit because it continues to strategic financial moves. For instance, it acquired CW capital in 2010 so it can expand its horizon to the commercial real estate market spectrum. It also sets the pace for all the other companies in the liquid market by investing in unwanted assets and bad debts. Additionally, FIG recently accepted its $3.3 billion acquisition by Softbank group a global technology giant looking to expand its operations into the world of asset management.By accepting the merger, Fortress investment group in conjunction with Softbank will now be able to take over Wall Street as both of them boast a solid market base. FIG is already seeing its benefits by accepting the merger because as soon as It announced its acquisition, its share price in the stock market shot up. We look forward to seeing more and more of FIG’s growth in the future because at this rate there is no denying that it is indeed a powerhouse of the finance arena.