Fortress Investment Group was established in 1998. Under the leadership of the principal founders, Wesley Edens of BlackRock Financial Management Inc, Randy Nardone of UBS and Rob Kauffman of UBS, the company developed into an alternative hedge fund manager, a real estate investment manager, and a debts securities evaluator. Nonetheless, Wes Edens has been the major contributor to the company’s growth.
Wes Edens started his career in California Savings where he worked in the loans department. Shortly after, he joined Merrill Lynch followed by Smith Barney. Around 1987, he started working for Lehman Brothers where he served as the director for mortgage division. He also became a partner in 1993. In the same year, Edens landed a job at BlackRock Financial Management serving as the director for a private equity fund. Later in the years, he landed a job at BlackRock Asset Investors.
In 1997, Edens was joined by his business associates in an investment scheme for distressed assets. Later into the years, they decided to form Fortress Investment Group, a move that contributed to the appointment of Wes Edens to serve as an executive leader. In 2007, he facilitated the publication of the company in the New York Stock Exchange. Edens is not just a businessman. In fact, he is more of a philanthropist than an entrepreneur. Primarily, he gives to the less fortunate in educational causes, health, and art, and technology advancement. His lifetime giving is more than $2.7 million. Additional contributions he is known for include giving $1 million to Macalester College, and $700,000 towards Martha’s Vineyard Hospital. From 2006 to 2010, he had given $500,000 to the healthcare system.
In 2009, Edens continued to serve even though Fortress Investment Group was undergoing some challenges in regards to dwindling shares. In 2017, the company was bought by Softbank Group Corporation, a technological company. In this new acquisition, it Fortress Investment Group moved to the new umbrella with its employees. Wes Edens is one leader that managed to retain his position. This is solely because the company needed him to handle more duties.
For details: www.wesedens.com/