Peter Briger: Helping Bring Fortress to New Levels

Peter Briger is the Co-Chairman for the Fortress Investment group and has been so since 2009. He began his stint at the company during 2006 before being promoted to Co-Chairman. Briger is in charge of both Fortress Investment Group’s credit and real estate activities. The Fortress Investment Group has recently been acquired by SoftBank. SoftBank is a Japanese company that holds the title of being one of the world’s largest investment companies. With it’s acquisition of Fortress Investment Group, SoftBank rises closer towards being the top investment company in the world. Peter Briger and his other two co-chairman for Fortress Investment Group are bringing in a hefty one billion dollars each due to the 3.3 billion dollar acquisition.

Fortress Investment Group will continue to run as it always has. Peter Briger and the other chairman will still have nearly all say in the day to day activities of the company. When asked, the CEO of Fortress stated that the chairmen and top management positions were completely fine with the face that they are now removed from the NYSE and that they are all excited to work as a private and independent company despite the acquisition. SoftBank -The company that acquired Fortress- has over forty years of experience and was established in 1981. The company is invested in over four hundred different Internet-based businesses and continues to grow. It began to evolve and grow exponentially after investing in Yahoo! during it’s peak as an internet business.

Fortress on the other hand is a bit newer. The company has only been around roughly half as long as SoftBank. However, with the combined efforts of Peter Briger and the other top members of the company, the Fortress Investment Group has grown to manage the investments of nearly 2000 different clients. It was an odd decision for SoftBank to invest such a large amount into a company that it will not have much say in how it operates. However, it was an intelligent move. SoftBank specializes in the acquiring of internet businesses. They’re not a specialized investment group. By acquiring an investment company as large as Fortress, SoftBank gives itself key resources for branching into the world of investing. On the other side of the equation, Fortress is now a private company. It’s not publically traded anymore. They also gain access to dozens of Asian companies as resources and partners. So, in the end it’s a double win. Both companies benefit greatly and neither of them sacrifice any control over their company.

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