Fortress Investment Group: An Asset Management Firm in New York
Fortress Investment Group is a global investment management firm that operates in the United States, Europe and Asia. They provide their clients with access to a range of asset classes including private equity, credit investments, hedge funds and liquid markets. Fortress first opened for business on September 10th, 1998, with headquarters in New York City’s financial district.
Fortress Investment Group has grown significantly since then by acquiring more than three dozen firms globally including WL Ross & Co., Pacific Investments LLC, GEM Global Advisors Inc., AIG Global Real Estate Partners LP and more. Fortress manages assets worth more than $43 billion for its investors, which include pension funds, sovereign wealth funds and many multinational corporations.
The firm’s success has been partly attributed to the strength of its principals: Wes Edens and Randal Nardone who both co-founded Fortress and continue to lead as CEO and COO respectively. The two are well respected throughout the financial industry and Edens has been listed as #352 on Forbes’ list of billionaires. He is also an active participant in various charities.
Fortress Investment Group’s Work with Blockchain Technologies
As interest in cryptocurrencies continues to grow, more and more investment firms are looking into blockchain technology which led to Fortress Investment Group making a $16 million strategic investment in Pantera Capital, one of the first and largest institutional investors focused on blockchain technologies.
Pantera Capital Management LP is the world’s foremost firm for investing in blockchain technologies and was co-founded by Dan Morehead. Fortress Investment Group of New York currently stands as the only one of its kind that has ever been launched in the United States.
Dan Morehead, Co-Founder and CEO of Pantera Capital said that Fortress Investment Group’s decision to invest in their venture was an important milestone for them because it has potential to further establish blockchain technologies as a legitimate asset class across the financial market.