Principal and Co-Chairman of the Board of Directors at Fortress Investment Group-Global Investing Firm
Peter Briger, Principal and Co-Chairman of the Board of Directors at Fortress Investment Group is now employed by the very-well capitalized new owner of Fortress, Softbank. Softbank completed their acquisition of Fortress in late 2017. Fortress has long been a firm completely focused on many types of alternative asset management tools. They help clients to better understand what more they can do with their investment dollars, in a more pragmatic way, as new opportunities become available.
Softbank needed a stronghold in the US market as the focus of this company seems to be moving toward becoming one of the largest global investment firms. As a company that was founded on software and developing progressive technology, moving into investments seems like a natural progression. Safety and security are a concern of many, especially when it comes to their money, and Softbank can deliver on providing the safest and most current technological platform for executing transactions. With Softbank owning Fortress, there is an added layer of security to everything, and a well-capitalized company to back all of the moves Peter Briger could be interested in making. Softbank paid top dollar to acquire Fortress, yet they will remain neutral as to how Fortress proceeds to manage its over $40 billion in assets. The reason they don’t have much say is because the US governmental Committee on Foreign Investments would have blocked the deal unless Softbank agreed to have limited say in how the firm’s assets were managed and more
Peter Briger, as a result of this turn-of-events, is likely in the best position of his career. He worked for 15 years at Goldman Sachs before joining Fortress in Joining Fortress was a move made because the firm was looking for someone to diversify their focus away from private equity and toward real estate investments and other debt security options. Peter Briger’s focus has long been distressed debt or being able to harvest companies that are on the brink of bankruptcy, or who have filed. Essentially, he is adept at finding situations, around the world, and buying the assets of those companies on a downturn. These skills have served him well in his time with Goldman and will likely continue to serve him throughout his tenure at Fortress.