As a result of his contributions to the establishment as well as the resuscitation of Fortress Investment Group after the mortgage crisis, Wes Edens commands a lot of respect in the financial circles. His leadership and knack for identifying business opportunities is unmatched. In less than three decades of his active participation in the investment world, he has achieved much more than any other managed assets and portfolio managers of his time. Plus his successes aren’t just confined to the financial world, he has launched personal and non-financial projects from scratch and seen them thrive and reach international standards. Here are some of his investments and personal achievements.
Achievements at Fortress Investment group
While he may have founded the now global investment company with such compatriots as Peter Briger and Randy Nardone, he is the longest-serving CEO and Chairman of the company having steered it from 1998 to 2009. During this time he not only helped the company overcome infancy and emerge as one of the leading asset management firms in the world but also helped it recover from the 2007/2009 subprime mortgage crisis that brought it to its knees. Wes Edens has also been instrumental in the advancement of the Investment funds objectives. For instance, during his tenure as CEO and chairman, Wes helped the investment firm expand its investment vehicles to cover hedge funds, real estate, and private equity funds. He also initiated several acquisitions and partnerships with other investments firms, some of which contributed to the company’s fast rise to global recognition.The most significant was the company’s investment in Springleaf Financials, formerly known as AIG American General Finance. Through apt management, he helped turn this investment from a $124 million investment to a $3.5 Billion fortune. This went a long way in helping his company overcome the crisis that had sunk the funds share capital below the one-dollar mark.An equally important move was his role in Fortress Group’s acquisition of Nationstar Mortgage. The $575 million acquisition helped his firm expand its reach in the more than 25 states Nationstar was previously exposed to prior to the purchase.
In 2014, Wes Edens partnered with Marc Lasry and bought off the NBA franchise of Milwaukee at the cost of $550 million. Since then he has been working on transforming the team and giving it a continental feel with much success. Wes is also the owner of a professional video gaming e-sports team. And while the game is relatively new, he has helped it promote it into achieving the fete of competing in the League of Legends challenge series for Northern American Circuit. Learn More.