Peter Briger is a Key Figure in SoftBank’s Purchase of Fortress Investment Group
Fortress Investment Group is celebrating 20 years in business as a private equity firm. It was founded by current principals Randal Nardone and Wes Edens, and its third founding member, Rob Kauffman, retired in 2012. Peter Briger has worked for Fortress Investment Group since 2002 and is now the firm’s third principal. The firm specializes in several areas of investment management including asset-based investing, mergers and acquisitions, operational management, capital markets, and global institutional knowledge of sector-specific industries. Since its founding in 1998, Fortress Investment group has grown from $400 million to $70 billion in assets under management. Read the article of Peter Briger at Forbes.
All three principals have extensive experience in the financial markets that they developed while they held positions in firms like Goldman Sachs, Lehman Brothers, UBS, and BlackRock Financial Management. Randal Nardone and Wes Edens are based out of New York while Peter Briger is based out of San Francisco. Peter’s office in San Francisco gives him strategic access to the Asian market, which is his specialty. During his 15-year career at Goldman Sachs, he sat on several committees that focused on Japan and the Asian markets, and he held leadership roles in funds that focused on Asia in the areas of real estate, special opportunities, and distressed debt.
In 2017, the Japanese holding company SoftBank Group Corporation purchased Fortress Investment Group for $3.3 billion in cash. SoftBank’s portfolio includes companies that are in a variety of industries that include telecommunications, robotics, clean energy, artificial intelligence, and internet services. As a result of this purchase, trading stopped on Fortress Investment Group’s stock, and its stock was taken off the New York Stock Exchange. Shareholders received $8.08 per share in cash. Fortress Investment Group continues to operate as its own separate entity and maintains its business model. Peter Briger, Randal Nardone, Wes Edens, and the rest of the leadership team remain in place. Peter Briger’s expertise in the Japanese market was instrumental in closing this deal.