Posts Tagged: Investment Portfolio

Wes Edens Asset Manager

Investing for the future is one of the most critical aspects of having financial success. Some people struggle to develop a cohesive investment strategy. Over the past few years, Wes Edens has become a prominent investment adviser. He works for Fortress Investment Group, and he even helped start the company.Wes thinks that all clients should be treated equally. At some big investment firms, clients are given special privileges if they earn over a certain amount of money. He makes sure to tell customers that they are all important to him. Although he spends a lot of his time managing the business, he still enjoys interacting with customers each day.

Gold

Gold is a common asset for people to invest in. Gold has various benefits, including acting as a hedge against inflation. In the last economic recession, few people were ready for a crash. Most people had to deal with an investment portfolio that crashed in value. Wes had his clients prepared for a coming economic correction. Although he still experienced a negative return in 2008, it was much better than the market provided. Wes encourages everyone to have some exposure to gold in their portfolio. Buying gold is a common strategy for anyone who wants to take their investments to a new level.

Other Asset Classes

As an alternative asset manager, Wes has plenty of other investment options for clients. In the past, he has recommended that investors buy stocks in emerging markets. An emerging nation is a country that is growing rapidly but may still have some issues. A great example of an emerging country is India. Although investors may earn a high return, there are also various risks with this decision.Wes is proud of the work that he has accomplished with Fortress Investment Group. He has helped thousands of people get prepared for their retirement.

The Business Story Of Wes Edens; Chairman And Founder Of Fortress Investment Group

Born October 30th, 1961 Wesley Roberts Eden is a Co-founder and Co-Chairman of Fortress Investment Group. He obtained a B.S in Finance and Business Administration in 1984 from the Oregon State University. His career began in 1987 when he became a partner and later the Managing Director at Lehman Brothers. He stayed at the firm until 1993, before he left for Blackrock. He was at the private equity division of Blackrock, known as Blackrock Asset Investors. He was a partner and Manager Director at the firm but left in 1997.In 1998, alongside four other partners, Wes Edens founded the Fortress Investment Group. The other partners included Randy Nardone, Robert Kauffman, Peter Briger and Michael Novogratz. Edens was described by the Wall Street Journal as a man who has an inkling for building businesses from investments. On February 9, 2007, Fortress became a public company through its initial public offering that saw the company becoming the first publicly traded buyout firm.

By 2009, 8% of Fortress shares had been sold to the public for an estimated $600 million.Wes Edens became a paper billionaire, alongside his partners, when in December 2006 Nomura Holdings; a Japanese Financial Holding Company acquired 15% of the firm for a whopping $888 million. He was named Co-Chairman in 2009, and in his capacity, he helped resurge the company by offering subprime lending. The firm had suffered during the subprime mortgage crisis with its stock price falling below one dollar. From between 2015 to 2016 he served as Chairman of the transportation and infrastructure department of Fortress.Wes Edens was the brain behind the acquisition of subprime lender Springleaf Financial Services, which was known then as AIG (American General Finance).

In 2010, Fortress had invested $124 million into Springleaf Holdings but by 2015 the value of the company had grown to an astounding $3.5 billion, leaving Fortress with a gain of over 27 times their initial investment. He is the firm’s Private Equity Chief Investment Officer, a position he has been occupying since August 2009. Aside from his portfolio at Fortress, Wes Edens also occupy key positions in world-renowned firms. He is the co-owner of Milwaukee Bucks, Inc. From June 2002 to February 2007, he served as CEO of Newcastle Investment Holdings. He was also the CEO Eurocastle Investment Ltd. He served as CEO Global Signal Inc. from between October 2002 and April 2006 and has been the company’s President since December 2005. He was also the CEO and President of Capstead Mortgage Corp.Eden is married to his wife Lynn, and they are blessed with four children. With a net worth of $1.2 billion, he is at number 962 of Forbes billionaires.