During the year of 2007 North America was privileged to experience the initial public offering of Fortress Investment Group. Fortress Investment Group held its initial public offering during February 2007 and in the process became the first publicly traded private equity investment firm. Fortress Investment Group had a long history and was originally founded in 1998. The corporation was originally founded by five principal founding members. Wes Edens is one of the original founding members. Wes Edens is perhaps best known for his role in the American economy as the chairman of Fortress Investment Group and as one of the owners of several sports teams.Wes Edens originally began his career in the finance industry by attending Oregon State University.
During his time at Oregon State University, he studied finance and business ministration. In 1984 he graduated from Oregon State University. After graduating from Oregon State University, he began to work at Lehman Brothers a well-known private equity investment firm. During his time at Lehman Brothers from the years of 1987 until 1993, he works diligently as both a partner and managing director. After this he decided that he would like to expand his career vision and began to work for Blackrock as investors. He remained at Blackrock as investors until the year 1997 as both a partner and managing director for that company as well. After having gained significant experience over the last decade, he decided that it was about time for him to launch his own company. It was then in 1998 that he launched Fortress Investment Group with the help of the four other principal founding members of the Corporation.
Fortress Investment Group was benefited by the investment style of Wes Edens which has been described as an investment style that is comprised of creative financing and is noted for its ability to create successful businesses by profitable investments. And February 2007 Fortress Investment Group was assisted by Goldman Sachs and Lehman Brothers in the underwriting of their initial public offering. By the year 2000 and 9/8% of the company’s shares have been sold to the public for a total valuation of around $600 million. In 2017 Fortress Investment Group was acquired by Japanese technology company Softbank group Corporation. After this acquisition, Wes Edens has continued to serve as Fortress Investment Group’s leader and member of the managing Board of Directors. Fortress Investment Group continues to operate independently with Wes Edens as part of the administrative staff.
Source of the article : http://www.nbcsports.com/philadelphia/tags/wes-edens