2007 will be remembered as the breakout year for Fortress Investment Group. It marked the year the private equity firm debuted publicly on the New York Stock Exchange in an initial public offering (IPO). This feat made business professional Peter Briger a billionaire seemingly overnight. At the time, the multitude of shares he owned skyrocketed and maxed out at a little more than $2 billion.
Peter Briger was up but as the saying goes, “what goes up must come down.” After some time his shares began to rapidly decrease in value. In fact, Fortress Investment Group’s stock has only trended downward since the IPO. Today, his shares are worth significantly less. Find out more at patch.com
Although it may seem like Peter Briger is floundering nothing could be further from the truth. His overall net worth has indeed went through the ringer on paper, but he has sustained his standing as an standout individual in the undercover world of special asset investing. His ability to to take a loss and bounce back is a major reason he is so successful.
Peter Briger was recruited to Fortress to help lead the company’s real estate and debt securities ventures. His job was really important at the time, due to the the company seeking out ways to stay ahead of the curve as it pertains to its core private equity business. He has since worked his way up and now serves as both a principal and Co-Chairman of the board of directors at Fortress.
Since the beginning of Peter Briger’s career he’s specialized in distressed debt. He thrives by trading assets that others reject. He has done extremely well for himself following the financial crisis, turning one man’s trash into his treasure. he even refers to his business strategy today as “financial services garbage collection.” A term that perfectly describes the way he’s able to make something out of nothing.