For a business to excel, especially in a crowded arena like asset management, it must come up with unique strategies that put it ahead of the others, and for this to happen, it must have a good management team. Looking at the current success of Fortress Investment group, there is no doubt that it possesses all these. Ever since its inception, its three principals continue to come up with strategies which have turned the firm into a leading light. The three, namely; Peter Briger, Randal Nardone, and Peter Briger utilize the strong risk-adjusted returns strategy which involves investing in areas that are considered highly risky.
For instance, ever since he joined Fortress Investment group, Peter has been heavily involved in the firm’s credit funds department, a sector which most investors tend to avoid due to the high risks involved. However, venturing into this arena has proven to be incredibly beneficial and has brought huge returns to Fortress. For example, Briger and his team successfully initiated a fund dubbed, Fortress Credit Opportunities IV, and effortlessly raised $4.7 billion for it. He has also helped expand the credit division team to about 300 employees. Thanks to leaders like Peter Briger, today Fortress Investment group oversees assets worth approximately $65 billion, and this figure continues to increase with each wake.
Even though the firm has had its shaky times, its good leaders have always been at the forefront of steering it out of the murky waters and into the good waters. It is thanks to this that their efforts continue to be rewarded handsomely. For instance, Peter Briger was ranked on the Elite Forbes magazine as one of the top 400 professionals of the year, a factor that saw him make an excellent name for himself and he also has a net worth of over two billion.
Peter Briger’s unmatched prowess can be attributed to his past experiences. Before joining Fortress, Peter had worked at Goldman Sachs &Co for a decade and a half. He specialized in undervalued and credit assets, a factor that made it easy for him to take over Fortress’s credit division.
Outside his career, Briger is heavily involved in charity work and sits as a board member and even director of various charity organizations. Together with two other Princeton alumni, Peter anonymously established a fund which was aimed at helping graduates from the facility set their path to self-sustenance by funding their startup ideas. He also sits as director of tipping point, a charity organization aimed at helping those who hail from poor backgrounds. Peter also supports Mother Nature which is why he contributed over $600 million for the conservation of New York’s central park.