Fortress Investment Group is one of the largest alternative asset managers on the planet, and the company manages more than $43.6 billion in 2017. Fortress was founded and launched in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone and launched on the NYSE in 2007. The company was originally founded as a private equity firm but moved rapidly into working with hedge funds, debt securities, and investments in the real estate arena. The company has the distinction of being the first, ever, large private equity firm to be publicly traded in the United States. In 1999, Fortress Investment Group launched the Fortress Investment Fund, and in the year 2000 the company launched the Fortress Brookdale Investment Fund.During the 2002 calendar year, the company created the Drawbridge Special Opportunities Fund and the Drawbridge Global Macro Fund and launched Fortress Investment Fund II.
In 2007, Nomura was added on as a strategic partner, and the Fortress Investment Fund V was launched. In 2008, Fortress put out the Fortress Credit Opportunities Fund and the the Fortress Japan Opportunity Fund along with the first Yen denominated fund. The company also began to manage accounts and funds that were managed by D.B. Zwirn & Co prior to 2009. In 2010, Fortress purchased Logan Circle Partners and Fitch Ratings gave the company a phenomenal BBB grade rating. In 2011, the company opened offices in San Francisco, Singapore, and Shanghai, and also launched the Fortress Credit Opportunities Fund III, the Fortress Asia Macro Fund, the Worldwide Transportation & Infrastructure Fund, and the Fortress Real Estate Opportunities Funds.
In 2018, Fortress Investment Group decided to purchase a SuperValu distribution center in Pompano Beach. The company paid $66.4 million for the 769,000-square-foot SuperValu facility that is part of an over 50 acre site that was constructed in the early 1970’s. SuperValu has announced that it is selling seven other facilities along with this one, and these are located in Wisconsin, Pennsylvania, California, and Illinois. This is just one of the more recent moves that the Fortress Investment Group has made, and the company is looking to continue its expansion in the future. Fortress is also now managing $6.5 billion in private equity; which are sector-specific and general buyout funds, $7.8 billion in permanent capital vehicles, $15.1 billion in credit private equity, and $8.9 in credit hedge funds that include opportunistic lending situations & distressed assets like corporate securities, assets, and loans.