Billion dollar investment firm Fortress Investment Group transferred its ownership rights to SoftBank, an investing company in Japan, in 2017. Wes Edens and Randy Nardone started Fortress in 1998 as a private equity firm managing assets and acquiring majority control of struggling companies. According to Wall Street Journal, SoftBank acquired Fortress for $3.3 billion giving the owners control of management and operations. Edens and Pete Briger hold Co-Chief Executive Officer and Co-Chairman positions, and will keep their roles as executives. Briger heads the Credit & Real Estate Business Division and serves as the President. Visit wsj.com
Briger, Edens, and Nardone are the principles of Fortress Investment Group and manages hedge funds and investment funds for qualified investors. Edens heads PE and serves as the President of PE and PE CIO. They seek companies in communications, renewable electricity procedures, consumer finance, and real estate. One day after Wall Street Journal reported the sale, Fortress’s shares increased to nearly 30 percent. For 20 years, the firm continues to be a leader in the investment management industry for credit funds and managing traditional private equity portfolios.
Most assets managed by the Fortress Investment Group is in Logan Circle Partners, a fixed income investing unit in Philadelphia, Pennsylvania. The firm acquired the managing company in 2010 and manages over $33 billion in credit and real estate assets, and private equity funds. They manage $18 billion in credit and real estate, and $7 billion in equity funds for Logan. By the end of September 2017, the firm managed $6.8 billion earning millions of dollars in revenue fees yearly.
The Fortress Investment Group team brings experience in structured deals, compliance, trading, and asset management to SoftBank. By the end of February 2017, Fortress managed seven percent of funds from investors in Asia and three percent of funding from the Middle East. SoftBank has locations in San Francisco and plans to invest $50 billion in the United States creating 50,000 jobs. Masayoshi Son, the CEO of SoftBank said he is considering investing into start-ups in the country when he visited the Trump Tower to meet with President Donald Trump.
Randal Nardone, a former lawyer, is one of the elite few in the world who can actually lay claim to being a self-made billionaire. The businessman, who has been listed more than once on Forbes annual list of billionaires and currently holds spot # 557, is one of the 1998 co-founding principals and current CEO of Fortress Investment Group–a leading global equity and investment management firm, boasting a portfolio that includes both private and public assets, real estate holdings, credit markets and hedge funds of almost 2,000 clients, totaling more than $46 billion.
Fortress also has the distinction of being the first large private equity firm to be listed on the New York Stock Exchange. In addition, Nardone, who got his Bachelor’s Degree from the University of Connecticut and J.D. from Boston University Law School and practiced law for many years before entering into the financial markets; also serves on several business advisory boards, where he carries various titles; including president and director. If that isn’t enough, Randal Nardone is also the acting director of Italian Real Estate Development firm, Eurocastle Investment.
Apparently, multi-tasking and laser-precision business acuity are special gifts that a rarified few like Mr. Randal Nardone possess; one, cultivated way back when he decided to leave his prestigious position as an executive partner with Thacher Proffitt and Wood Law Firm to venture into the often unforgiving and perilous waters of investment funding.Though new to the industry, Nardone proved to be a natural and quickly rose up the ranks and was soon the managing director of the Universal Bank of Sweden after stepping down as then head of Blackrock Financial Management. Shortly thereafter, in 1998, Nardone would meet the partners with whom he would co-found the immensely successfully, Fortress Investment Group—Wesley Edens and Robert Kauffman.Some twenty years later, Randal Nardone, who is based in New York; shows no signs of slowing down.
Highland Capital Management is the most-prominent credit managing firm in the world. The firm uses distressed credit markets to build capital for investors. The firm currently has assets totaling $18 billion with offices in New York, Singapore and Seoul.
Highland Capital Management has created stable investment portfolios for investors by focusing on a strategy that uses the firm’s best resources for the allocation of investments. The firm chooses a method that will operate with less risk to investors, but provide a diverse portfolio that sustains operating capital and brings forth promising yield returns.
One of the advantages that Highland Capital Management has over the competition is in its reduced rate that is 30 percent lower than its competition. That starting point has allowed the firm to engage at a level with investors that brings an opportunity for gaining capital before an investment even originates.
Highland Capital Management operates approximately $13 billion of collaterized loan obligations (CLO), making the firm the largest investment firm to operate in that asset-class. The firm remains as the principle credit management company to purchase private equity and distressed debt in a controlled space to add sustainable value. Highland Capital Management is able to take the debt of those companies and source it in a constructive direction, which results in high yield returns for investors.
The firm recently generated returns of 20.69 percent with a $400 million closed-end fund through NexPoint Credit Strategies and the firm is projected to reach 18.79 percent return over the next five years. This type of top performance by Highland Capital Management is consistent with their 27 year history of high yield returns for investors.
With an economy that has been challenged in recent years Highland Capital Management has managed to gain a significant edge on the credit market with below investment grade debt and equities. Highland Capital Management continues to surpass their competitors by choosing markets that otherwise would not be capitalized on for growth opportunities. The firm has set the best example of what should be done in a market that remains uncertain, yet provides many possibilities for investors to grow capital.