How Peter Briger Grew The Credit Division At The Fortress Investment Group

When the three founding principals Wes Edens, Randal Nardone and Rob Kauffman, who is now retired brought in Peter Briger to help them start the Credit Division at the Fortress Investment Group, they may not have anticipated the success that he has been able to achieve to date. He was named by Forbes Magazine as one of the top four hundred most influential business leaders in the world and has also received numerous other accolades for his amazing work at the Fortress Investment Group and also at Princeton University where he is a board member of the Alumni organization.

He graduated in ‘86 from Princeton and immediately joined Goldman Sachs. He would grow his career here for the next fifteen years before moving to Fortress. During this time at Goldman Sachs, he was able to join a number of committees and also advance his education. All these strategic moves helped him become a partner in 1996. However, some of those who saw Peter Briger leave Goldman Sachs for Fortress thought that it was a move downwards given the fact that at the time The Fortress Investment Company was only managing assets worth five billion dollars a fraction of the amount he was managing at Goldman. Peter Briger, on the other hand, knew that this was another strategic move for him and would only help him advance his career.

Over the next five years, he was able to grow the credit division at Fortress and help them launch their IPO. It was also during this time that he would become a principal. His strategic investments within the credit division had helped the Group rise from a five billion group to one managing assets worth more than 33 billion dollars. Peter Briger’s contribution to the Group cannot be overstated something that was still reflected when the Tokyo based SoftBank Investment Bank came calling. They were in the market for an asset management firm like Fortress, which would enable them to grow their portfolio in the United States. In 2018 they were able to close the deal for 3.3 billion dollars, but they were, however, more than happy to let the principals including Peter Briger, continue running it.

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