Mergers and acquisitions often make little to no sense to the outside world but have a lot of value to the parties involved. The deal between Softbank and Fortress might have seemed senseless to those who have no idea what it entailed, but when you consider the history of both, then it does make a lot of sense as it brings a horde of benefits to both firms. The merger will not only help both Fortress and Softbank expand but will also help them take over Wall Street without having to try so hard. Additionally, it suits the interests of both companies. For instance, even though it went public in 2007, Wes Edens, one of the firm’s officials revealed that they are excited about being private again.
A look at Fortress Investment group Even though the acquisition means Fortress will be under Softbank, Fortress will be operating as a separate branch hence its management team led by Wes Edens, Randal Nardone, and Peter Briger will remain intact. Ever since it was established in 1998, the company has made strides in asset management and now directs assets worth over $63 billion globally. The impressive achievements can be attributed to its excellent leadership panel and its unique strategies. Each one of the three principals heads a department that they are best suited in thus enabling the firm to achieve its goals. For instance, Peter Briger heads the credit and real estate department and has achieved monumental success in this arena.
More about Peter Briger
Peter joined fortress in 2002 and started off as a manager. He then smarted his way up to become one of the principals in 2009. He has helped the company achieve its goal of becoming a global conglomerate through the remarkable skills and experience that he earned in his previous workplace at Goldman Sachs &Co. Being part of Fortress’s success has also seen him reap many benefits. For instance, during the company’s IPO in 2007. Peter Briger made it to the list of world billionaires after the value of his shares shot to more than $2 billion. This saw him being added on Forbes top 400 business professionals and billionaires. He is a Princeton and University of Penn graduate from which he earned a BA and an MBA respectively. Peter also supports various charities such as the Alumni entrepreneurs fund, Tipping point and Central park conservation team and more