Peter Briger is the Co-Chairman of the Board at Fortress Investment Group. He has held this position since 2009 as well as serving on the Board of Directors since 2006. Peter first joined this highly regarded alternative investment banking operation in 2002 and currently is the man responsible for the company’s business in the areas of credit. He had a long and distinguished career in the financial industry prior to joining Fortress Investment Group which included a fifteen year run with legendary firm Goldman Sachs. Peter Briger is a graduate of Princeton Univesity where he earned his BA and also a graduate of the Univesity of Pennsylvania where he earned his MBA.
One of the biggest pieces of news to come out of Fortress Investment Group lately is the company’s acquisition by SoftBank. Though the Japanese firm will take over controlling interest in Fortress Investment Group, its three top executives Wed Edens, Randall Nardone and Peter Briger will remain in charge of the operation in a business as usual manner and the stand to reap a total of $139 billion in benefits from the sale. SoftBank has been a company that has been able to successfully shift its business to many different focus areas during its four-decade existence. The acquisition of Fortress Investment Group is the next phase in the company’s growth. The fact that business will continue more or less as usual for Fortress Investment Group is due largely to the fact that regulatory hurdles make it a necessity. As part of the purchase deal, SoftBank has made a commitment to take a hands-off approach in the ownership of Fortress Investment Group.
SoftBank was founded in 1981 by Masayoshi Son and originally focused on the business of wholesale software. The company shifted its focus in the 1990s to a model based around magazine publishing for the computer industry and computer trade shows. 1996 saw SoftBank acquire a controlling interest in legendary internet company Yahoo!. As of 2018, SoftBank is a stakeholder in 400 plush internet companies, many of them startups. The acquisition of Fortress Investment Group represents a major move in a new direction, but the retention of top executives such as Peter Briger, Wes Edens and Randall Nardone should help to make the transition a smooth one.
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