What are the odds that some of the top principals of the Fortress Investment Group would have also worked at Black Rock Financial? They must have created Fortress as a spin-off, right? Which of the Fortress Investment Group principals learned their trade at BlackRock?
The Sleeping Giant Named BlackRock
It takes time to build up a financial powerhouse. Wall Street can make it very difficult on the “new kid on the block.” By the time people hear of a famous financial company, it already has had a long history behind it. That is true for Black Rock. BlackRock was established in 1988 by Larry Fink. It started by offering conservative passive investment funds, such as exchange traded funds (ETFs). It had very tight risk management. BlackRock is primarily a wealth manager. It helps its clients get the best return on their investments (ROI). Unlike other financial institutions, it does not own a large number of assets, but simply manages them on behalf of its clients.Gradually, this strategy has allowed it to carve out its own low-key niche. It acts more like the Rothschilds, who are the power behind the throne. You might be surprised by the value of assets managed by BlackRock – some think it is #1 in the world for this category. It also manages the media company assets that own “The Economist.”The Economist claims that Black Rock Financial manages $4.1 trillion of directly controlled assets – stocks, bonds, commodities and sovereign debt. That is more than 2 full months of American productivity.
Survive & Advance
For March Madness, the theme was “Survive & Advance.” Surviving was also the focus during the 2008 Sub-Prime Mortgage Crisis. But, Lehman Brothers did not follow that advice. BlackRock did. BlackRock had a solid risk management strategy to handle the toxic debt based on each debtor’s zip code. As liberal banks collapsed, the conservative Black Rock “survived and advanced.”
Fortress & BlackRock
This conservative risk management model might have been very influential in the growth of two Fortress Investment Group principals: Wes Edens and Randal Nardone, who both worked at BlackRock. They learned how to properly conduct risk management. Also, Wes Edens and Randal Nardone can figure that Fortress might purchase a certain number of its IPO shares. BlackRock is good for the Fortress Investment Group and the Fortress Investment Group is good for BlackRock Financial.
Source of the article : https://www.fortress.com/about
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Fortress Investment Group is one of the leading investment managers globally with an impeccable track record. Fortress Investment Group was founded in the year 1998, and since then has grown substantially over the years. The founders of Fortress Investment Group, namely Randal Nardone, Wesley Edens, and Rob Kauffmann, are well-known personalities from the world of finance. They have a collective experience of over five decades between them, which helped in designing and developing the company as per the modern financial standards. Even though Fortress Investment Group started off as Equity Company that is private, it soon became a global name and is the only private equity firm in the United States to be traded publicly. Fortress Investment Group currently manages assets of over $50 Billion and the figure is steadily growing. As per the company’s official site, the asset portfolios of more than 1,750 clients are being managed by Fortress Investment Group. In 2014, the company won the title of being the best hedge fund manager by the leading financial magazine named Institutional Investor.
The annual revenue of Fortress Investment Group is more than a billion dollar, and the last recorded net income was around $180 million. Fortress Investment Group has its registered head office in New York but has presence globally at major vital cities worldwide. Fortress Investment Group was recently purchased wholly by the Softbank Group, which means that the latter company has acquired the shares of the company entirely. The company is also counted amongst the best employers in United States, and the employees of the company are satisfied with the work environment and culture practiced in the company as per the reviews left by the employees online. Fortress Investment Group takes care of its employees and provides them with regular incentives on performance and also organizes retreats for its employees to ensure the bonding among the employees as well as the relationship with the company is solidified with time.