Historic Achievements of the Fortress Investment Group
Since its formation back in 1998, the Fortress Investment Group has been a trendsetter. Founded as an equity firm, the group has achieved some impressive highlights over the years. Among the biggest highlights is back in 2007 when the Fortress Investment Group became the first private equity firm to go onto the New York Stock exchange going public.The period leading to the initial public offering was both hard-driving and dramatic for Fortress Group. The group had expanded its first investment fund with four different versions by 2006. Also coming to age on the same year was the Fortress Partners Fund, the Fortress Brookdale Investment Fund and the Drawbridge Global Macro Fund.
Two key leaders came to the helm of the organisation in 2002. These included Michael Novogratz, who came in as a fund manager from Goldman Sachs. He continued to play his role meticulously until his departure from the Fortress Investment Group in 2015. He left to explore other interests including the lucrative crypto-currency sector.In the period between the years 2006 and 2007, Fortress Investment Group made company key steps in its growth by making critical acquisitions. One of the several key acquisitions was Intrawest, the largest operator of a ski resorts in North America. Fortress Group also purchased Florida East Coast Industries, RailAmerica and Penn National Gaming (a horse racing venue and casinos operator).
After the Fortress Group went public, its profile rose significantly. Firms followed the Fortress move to get a similar profile raise. In the course of the next decade, the firm continued increasing its investment vehicles. Bringing an allotment of new and exciting funds online, the Fortress Group was growing at an impressive pace. These funds included the Infrastructure fund, the Fortress Investment Fund V, the Fortress Real Estate Opportunity Funds and more.In addition to its continued growth in investment locally, Fortress Group began including funds with an international focus in its portfolio. In 2010, Fortress efforts to acquire AIG’s America General Financial Services finally bore fruit. The company later came to be known as Springleaf Financial Services.A lot more highlights have been achieved by the firm over the years as it came to be the renowned investment firm it is today.