Once a partner at Goldman Sachs, where he worked for fifteen years, Peter Briger joined Fortress Investment Group LLC in 2002, where he became Principal and Co-Chairman of the Board of Directors. Fortress Investment Group began as a humble private equity firm back in 1998, but it rapidly grew to successfully handle hedge funds, real estate investment, and debt securities. Fortress, thanks in larger part to Briger’s efforts, also became the first large, private equity firm in America to go public on the New York Stock Exchange. Along with real estate, Peter Briger manages the credit business of Fortress by leveraging his extensive experience in securing financing through equity markets and debt.
It is this work that earned him the nickname “King of Debt” from Motley Fool. A husband and father of four children, Peter Briger earned a B.A. from Princeton after getting his Associates at the University of Pennsylvania. He went on to earn a Master’s of Business Administration from Wharton Business School. As one of the financial gurus behind Fortress, Briger helped to make the company “Credit-Focused Fund of the Year” in 2010 and 2011 and “Hedge Fund Manager of the Year” in 2014. These are no small accolades, considering that Fortress Investment Group, which is headquartered in New York, handles over $43 billion in diverse assets.
Fortress is now owned by Softbank, a Japanese banking conglomerate which purchased it in 2017 and plans to use it to provided continued leadership in the field of alternative-investment. Peter Briger’s focus on Asian real estate and debt in his work at Goldman Sachs made him instrumental in this purchase of Fortress. Through his skill in the finance industry, Peter Briger has earned a spot among the world’s self-made billionaires and on The Forbes 400, a list of elite businessmen and women worldwide. In 2007, his net worth peaked at $2.3 billion. But his work is not limited to Fortress Investment Group. He also serves on the board of Caliber Schools, a network of charter schools that strive to prepare successful students, and on the board of Tipping Point, a not-profit dedicated to helping low-income San Francisco families.
Fortress Investment Group has crafted a reputation for trendsetting in the industry since its founding as a private equity firm in 1998. This natural tendency for innovative practices was never more evident than it was in 2007 when Fortress’ initial public offering made it the New York Stock Exchange’s first publicly traded private equity firm operating on a large scale.Fortress has grown today into being a well-diversified investment firm operating globally and managing more than $43 billion in assets.
The company manages assets of more than 1700 investors in hedge funds, private equity, and other investment vehicles. The company’s main base of operations in New York City and Fortress Investment Group employs over 900 people.The three principals of Fortress Investment Group are Randal Nardone and Wes Edens who both perform duties with the company at the New York office, and Peter Briger, who is based in San Francisco. The company specializes in an assortment of core areas of expertise that include but are not limited to:
- Mergers and acquisition of corporate entities
- The management of operations
- Investing based on the value of assets
- Expert Knowledge of companies across multiple sectors
The original founding of Fortress Investment Group was completed by Nardone, Edens, and Rob Kauffman, who retired from the company in 2012. These original founders of the company brought with them an unprecedented wealth of knowledge of expertise from the accumulated years of work experience at industry giants like Lehman Brothers, UBS, Goldman Sachs, and BlackRock Financial Management.The original intent was to create a first of its nature investment firm that was capable of raising the needed private equity to invest in innovative investment vehicles.
The company exploded with growth once started as assets grew from $400 million to begin, to $3.9 billion just five years later. And by 2007, the total value of the assets managed by Fortress Investment Group had grown to $32.6 billion. Rob Kaufmann left the company to pursue a life-long dream he held for car-racing and he purchased a fifty percent interest in Michael Waltrip Racing. His replacement was aforement ioned Peter Briger who has remained on with the company as its third principal to this day.Fortress was purchased in 2017 by SoftBank Group Corporation at a price of $3.3 billion with all principals and company infrastructure remaining in place.
What does it take to be named among the top 400 business professionals in America? That is the question we will be trying to answer by looking at the incredible life of Peter Briger one of the few listed in this exclusive list. Peter Briger is the current Co -CEO of Fortress a sixty-five billion investment vehicle with investments spread all over the world. He began his journey to where he is today by attending Princeton University. Princeton is known for having very strong business-oriented classes and constantly encourages all its students to try and venture into entrepreneurship. He would be part of the class of ’86 graduating with a B.A. Having achieved this; he found a job with Goldman Sachs where he launched his career. He would remain at Goldman Sachs for fifteen years, and during this time he would go on to achieve a lot both career-wise and in terms of experience. He made partner in 1996 and the following year together with others co-founded Goldman’s Special Situations Group.
This group would come to be highly regarded as it is believed to have been among the biggest contributors of revenue to Goldman over the last ten or more years. It came to be known more when Mark McGoldrick, one of the Co-founders left in 2007 citing his $70 million paycheck as merge compared to the income they were bringing in for Goldman Sachs. Peter Briger was able to join various international committees during his years here, most notably the Global Control and Compliance Committee and Asian Management Committee. This was in addition to the other positions he held at Goldman the included Co-Head of Asian Distressed Debt business, Co-Head of Whole Loan Sales and Trading business, Co-Head of Fixed Income Principal Investments Group, and Co-Head of Asian Real Estate Private Equity business.
These positions required passion as well as dedication something that Peter Bridger is full of. It was not long before Fortress noticed these attributes and he went on to join them in 2002. At Fortress, his roles would quickly evolve soon been elected as Head of Credit and Real Estate Business. This would later see him move to the inner leadership circle when he was elected to be part of the board of directors. In 2009 Peter Briger would be elected Co-Chairman of the board. This was a test that would prove his leadership skills, and it was only natural for him to become Co-CEO in 2017.
Through expansion in 2014, Equities First Holdings entered a new market in Australia. The new office in Australia would be called Equities First Holdings Australia Pty. Ltd. (EFH AU). EFH AU has performed very well, and it created business growth that allowed them to open offices in Sydney, Perth, and Melbourne. Many people frequent these offices, because they want to take advantage of EFH AU’s product, an equity-loan. An equity-loan allows a loan’s principal to be use for any purpose, and it allows stocks to be used as collateral. Stocks will only be considered as collateral if it meets the valuation standards of EFH AU.
Equity-loans used by EFH AU helped the global corporation of EFH to become a global leader in security-based lending industry. An equity-loan normally has a better approval rate than traditional loans. EFH AU has many clients who have been rejected for bank loans, and they would attempt to get equity-loans. EFH AU will attempt to provide clients good loan terms. The business practices of EFH AU because they have shown to have integrity and works well to get good results for the clients. EFH AU will continue to grow as long as people believe in them.