Peter Briger: From a Local Investment Fund to a Global Investment.

Peter Briger is a co-chair of the Fortress Investment Group which was launched in 1998 by Wesley R. Edens, Rob Kauffman, and Randal A. Nardone. He joined the company in 2002 after moving on from Goldman Sachs where he had been a partner since 1996. During its initiation, the co-founders converged their financial expertise attained from previous firms including Goldman Sachs, Lehman Brothers, UBS, and BlackRock Financial Management. The co-founders were focused on forming a new type of investment firm that would raise private equity and invest in innovative funds. The first Investment fund – real estates- was created in 1999, where investments were launched in the Toronto and New York Markets. The markets saw great success and had quick expansions on the hedge funds and debt securities sectors. The management has since seen changes with the appointment of Peter Briger as co-chair and the retirement of Rob Kauffman in 2012.

Business survival can be challenging over the first few years after initiation and just like any other business, the first decade of Fortress Investment Firm was dramatic. As a result of the high qualification and experienced directors, the firm picked on a tremendous growth trend and by 2006, expanded its first investment fund, with versions II, III and IV alongside the Long Dated Value Funds, Drawbridge Global Macro Fund, Drawbridge Special Opportunities Fund, Fortress Brookdale Investment Fund and Fortress Partners Fund. With Peter Briger in Management, the company has had numerous acquisitions since 2006 such as the Canadian company Intrawest, the largest ski resort operator in North America, the Florida East Coast Industries, Rail America, and the Penn National Gaming that operates horse racing avenues and casinos.

Peter Briger has led the company to become the first hedge company in the United States to inaugurate an Initial Public Offer, opening the pricey hedge funds and private equity to individual investors. Fortress Investment Firm became a trendsetter in the market after going public, and other investment firms began to follow the idea set forth. Also, the company has succeeded in adding international funds to its portfolios such as the Italian NPL Opportunities Fund, Fortress Japan Opportunity Fund, Fortress Asia Macro Fund, and the Japan Income Fund.

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