The Fortress Investment Group was founded in 1998 by three visionary businessmen – Randal Nardone, Wesley Edens, and Rob Kauffman. The three individuals where working for different financial companies, and met when they started working for the Blackrock Financial Management Inc. The three agreed that for them to earn more profit, they would need to establish their own business and transform the business to become more competitive, especially that the market for financial business keeps on growing. Randal Nardone, Wesley Edens, and Rob Kauffman agreed to quit their jobs at the Blackrock Finance Management Inc., and they established the Fortress Investment Group shortly.
The business that they established is classified as the private equity firm, and what they do is to invite investors and other financial experts to put their assets into the company, and they will be managing it to gain more profit. The founders of the company selected New York City as their headquarters, and they began inviting businesses who wanted to forge partnerships with them. At first, the Fortress Investment Group can collect a few million dollars’ worths of investment, but as the founders applied hard work to their jobs, they managed to increase their profit, and they started earning their first billions. More and more people started to look at the Fortress Investment Group as a reputable company in the field of financial management, and many investors have seen the potential of the business to grow.
By the year 2007, the founder of the Fortress Investment Group saw the potential of the company grow exponentially if they will be introducing the company at the stock market. The founders forged an agreement with the New York Stock Exchange, and the company was introduced to the public. The company managed to sell shares worth $600 million, and the company’s market value started to rise. They also became the largest private equity firm in the United States, and their assets kept on increasing. Today, the company manages assets worth $70 billion, and the founders of the company kept on performing well in the financial sector, making more profit as they try to dominate the global financial industry.