Principle Peter Briger Continues to Head Fortress Investment Group’s Credit Division After SoftBank Gains Ownership
The end of 2017, SoftBank Group Corporation closed one of the largest acquisitions of an international investment managing firm in the US. It cost the Japanese investing company $3.3 billion to purchase Fortress Investment Group, a private equity firm headquartered in New York, NY. Since the establishment of Fortress in 1998, the company received enormous growth investing in tangible, intangible, undervalued, and distressed assets. The success behind the company is one of its Principles, Peter Briger who serves as Chairman and continues his role of leading the Credit Division. View Peter Briger website at peterbriger.com
According to Patch, on May 15th, 2018, Briger joined the leadership team in 2002 bringing experience in management skills and the Asian financial sector. Four to fives years after joining Fortress Investment Group, Peter Briger and his leadership team purchased RailAmerica, Florida East Coast Industries, and Intrawest. Immediately, the firm offered IPO stock and became the first hedge fund in the United States to launch the new investment product.
As a result, Fortress went public and increased its vehicles to include Credit Opportunities Funds I and II, Fortress Investment Fund V, and Fortress Real Estate Opportunities Fund I and II. In addition, the Credit Division added Italian NPL Opportunities, Fortress Asia Macro, and Fortress Japan Opportunity Funds to its portfolio. In 2010, Briger led an acquisition transaction to buy American General Financial Services from AIG, known now as Springleaf Financial Services. The buyout of American General was a success and with the help of management, its value increased to $3.5 billion in a few years.
The following year, Fortress Investment Group opened an office in San Francisco, California to house the Credit Division under the leadership of Peter Briger. For 16 years since the launching of the divisional operation, he managed an investment portfolio comprising funds for Fortress and Drawbridge. Before Fortress Investment Group, Peter Briger worked for Goldman, Sachs & Company for approximately 16 years and became a partner. His primary focus is on real estate assets and credit. In 2008, Forbes recognized him as number 962 of The World’s Billionaires. His net worth at the time was $1.2 billion.