Fortress Investment Group Finds Luck With Peter Briger

Peter Briger a partner at Goldman, Sachs and Co. in 1996, where he spent fifteen years of his professional career before he went on board with Fortress Investment Group in the month of March year 2002. He is the Board of Directors’ Co-Chairman and Principal at Fortress Investment Group, where he likewise served as a Management Committee Member, and is in charge of its Credit and Real Estate venture.

Peter Briger finished his Business Administration degree at the University of Princeton and earned his Master’s in Business Administration from the University of Pennsylvania’s Wharton School of Business.

The Fortress Investment Group was launched as an IPO on the market in February 2007 making Peter Briger, Jr. a billionaire since his stock share of sixty-six million in the company was valued at $2 billion during that time. Incidentally, the value of the Fortress stock decreased by 74%, and his shares declined. Currently, Peter Briger’s forty-four million shares are now priced at approximately $350 million, which is quite lower (on paper) compared to when the Fortress’s stocks were initially offered to the public.

Although his net worth is lower, Briger is still regarded as one of the leading figure in the industry. His affluence is a result of his expert analytical skills in asset trading, where no other individual with the same resources dared to venture. Peter Briger’s forte lies with distressed debt. His expertise was illustrated when he became a co-founder of Goldman Sachs’s Special Situations Group in the year 1997.

The Special Situations Group created by Briger and Mark McGoldrick has been popular because of its clandestine but extremely lucrative dealings. It has been acknowledged as the main income source of Goldman Sachs for the past ten years or so. To illustrate just how profitable the group was. Mark McGoldrick, Co-Founder of the Specials Situations Group, disclosed that the $70 million salary he was receiving then was a pittance in comparison to the profits he was making for the company. And this is the primary reason why McGoldrick resigned from Goldman Sachs in 2007.

At the height of their career in Goldman Sachs and Co. Peter Briger, Mark McGoldrick and their associates in the company were into the financing of cars in Thailand, particularly in the buy and sell sector. They likewise took on troubled mortgages in the Land of Rising Sun (Japan), went to South Korea to dabble with a company engaged in alcoholic beverages, had business dealings with commercial aircraft, and so much more.

In all the business deals made by the group – the scheme was to purchase the assets that were no longer a part of the conventional capital resources. And the main cause of these events stemmed from political stresses, economic issues, or any other cause as the occasion presents itself.

After leaving Goldman Sachs for Fortress Investment Group, Peter Briger continued to portray his business acumen by raising $4.7 billion for the Fortress Credit Opportunities Fund IV, which is equivalent to eighty-seven percent of the new funds that entered Fortress Investment Group within a three month period.

To Know More Click Here

This entry was posted in Business, Investment. Bookmark the permalink.