Wesley Edens Achievements in Fortress Investment Group.
Wes Edens is one of the founders of Fortress Investment Group. Popularly, he is known as Wes. Wesley has built an excellent reputation as both a businessman as well as an investment consultant. Wesley’s career in business, particularly investment, started soon after he attained his degree in Business administration from Oregon State University. For the past 30 years, Wesley Edens has worked as an investment professional.
After his studies, Mr. Edens joined Lehman Brothers. He was made a managing director and soon after, a partner. He later left Lehman Brothers for BlackRock Asset Investors. At BlackRock, he was as well made a manager and a partner. He worked with Blackrock asset Investors for almost half a decade before moving on to start his firm. He teamed up with four other founders and together they established the Fortress Investment Group. The idea of coming up with Fortress was devised a year after Wes Edens left his job at BlackRock Asset Investors.
Together with the other four principals, Wes Edens has seen Fortress grow to become one of the largest investment companies in the United States. After running the companies for years as a private firm, the five principals decided to make it open to the public. This took place in 2007. This meant that from then, the public was at liberty to buy and own shares in the firm. According to the current reports and data, approximately 10% of Fortress investment Group shares are publicly owned. The stocks that have been sold to the public have earned the company close to half a billion dollars.
Since its establishment, Fortress Investment Group has acquired a lot of assets. These include private and public ownership. The company has many stock funds in its name as well as hedge funds. Fortress is a major investor in the real estate business. Moreover, the firm owns many vehicles. The acquisition of a percentage (15%) of Fortress Investment Group by a Chinese company earned the five principals a lot of wealth. The Chinese company bought the portion for close to $1 billion.
Wesley Edens was made a co-chairman of the company soon after its establishment. Wesley took advantage of his appointment to take the company towards success. As a chairman, he led the company through various innovations. With him as one of the chairpersons, Fortress Investment Groups came up with eSports, a gaming app. eSport provided a gaming platform for its users. The company also acquired close to 80% of AIG, currently known as Springleaf Financial Services. With this purchase came a significant improvement in the financial status of Fortress. Soon after, Fortress Investment Group put Wes Edens in charge of Springleaf Financial Services. read full article