Founded in 1998 by Wes Edens, Randal Nardone, and Rob Kaufman, Fortress Investment Group has gone on to become one of the world’s foremost diversified global asset management firms. Since its inception, Fortress Investment Group has been widely viewed as a trendsetter, and this was never more evident than in 2007 with the firm presented its initial public offering – a first of its kind for a large-scale investment firm. When Fortress Investment Group was first founded, the goal of the principals was to create a new type of investment firm – one that utilized “alternative-asset” strategies in order to create capital.
Originally focusing solely on private equity, today, the firm has expanded its horizons, with three major divisions concerning Permanent Capital Vehicles, Credit, and Private Equity. In 2012, original principal, Rob Kaufman, retired in order to pursue some of his other passions, and Peter Briger has since taken over the position. Fortress Investment Group currently manages over 1,700 investors, with assets totaling more than $40 billion, and also employs over 900 people. Wes Edens, who bought the Milwaukee Bucks in 2014 for $550 million, has pursued a number of interests outside of his responsibilities in overseeing the Private Equity Division at Fortress.
With the introduction of Brightline, the only privately owned passenger rail system in the United States, he and the firm which he has helped to grow into a powerhouse, have elected to try to improve daily commutes in high-traffic areas of the country. Since May of 2018, Brightline has been servicing the Miami, FL area, offering a commuter train between Miami and Fort Lauderdale that runs several times a day. Currently, the commuting time can fluctuate between half-an-hour, to several hours, depending on traffic, but commute times can be capped at about 35 minutes when utilizing the budding new service. Today, the speed of the Brightline passenger train can reach 79 miles per hour, but within the next two years, Wes Edens and Fortress Investment Group, hope to create a route that would extend to Orlando, FL, offering travel speeds of, up to, 125 miles per hour. Learn More.