Fortress Investment Group LLC is an American investment management firm based in New York, New York. The company went public on February 9, 2007. Fortress Investment Group LLC was founded as a private equity firm in 1998 by Wesley R. Edens, a former partner at BlackRock Financial Management, Inc.; Robert Kauffman, a managing director of UBS; and Randal A. Nardone, also a managing director of UBS. Fortress quickly expanded into hedge funds, real estate-related investments and debt securities, run by Michael Novogratz and Pete Briger, both former partners at Goldman Sachs. In a video... interview, Novogratz discusses in detail the growth of Fortress and the keys to developing Global Macro Funds. Fortress Investment Group's investments grew rapidly, with its private equity funds netting 39.7% between 1999 and 2006. As of June 30, 2010, Fortress Investment Group had four core businesses totaling approximately $41.7 billion of assets under management: Private Equity, Credit, Liquid Markets and Traditional Asset Management . In 2006, Fortress-managed Funds acquired Canadian ski resort operator Intrawest.
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| NYSE symbol: | FIG |
| Founded: | 1998 |
| Headquarters: | New York City, United States of America |
| Annual revenue: | $731,800,000 |
| Net income: | $-322,290,000 |
| Operating income: | $977,000,000 |
| Market cap: | $1,500,000,000 |
| Industries: | Hedge fund, Private equity, Investment Advice, Real Estate, Rail transport, Investment management |