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Peter Briger’s Career Journey before Getting to Fortress Investment Group

Princeton University was the first college that Peter Briger attended before joining the University of Pennsylvania where he later graduated with a master degree. In both institutions, Briger was pursuing his dream of becoming a business manager by doing a discipline in Business Administration. He passed very well and left a legacy in both institutions. However, of the two universities, Peter Briger was more attached to Princeton University than the University of Pennsylvania where he was at the Wharton School of Business. Due to this reason, Peter has been following all the events organized by the institution, most of which are meant for the alumni of Princeton and he has continued to participate in them. Recently, Briger was made the chairperson of the Association of Princeton University’s Alumni, an honor that demonstrated that he was recognized as a legend in the school. For more information about him click here.

After leaving the Wharton School of Business, Briger immediately got employed at the Goldman Sachs, one of the most recognized financial and investment institutions in the region during that moment. He was mandated to execute the operations that were directed to him by the head of the department, as a junior officer in the company. With time, the management noted that Peter Briger had some decision-making skills that not many individuals in the organization possessed. He was promoted to the position of head of portfolio management in the organization. This was the position that equipped Briger to become the excellent investment manager that he is today at Fortress Investment Group.

As the portfolio manager, Peter Briger was responsible for making the significant decisions on how and where to invest the funds of the bank’ investors. He was also mandated with the responsibility to decide which asset strategies in which the company would place their investments. This was a role that he managed with a lot of expertise, and the senior management of the company was impressed. In 1999, the managing director of Goldman Sachs retired and so Briger was left as the only option to replace the retiree, according to the preferences of the shareholders. Peter Briger served in this position until in 2002 when he transferred to Fortress Investment Group.

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Randal Nardone and his work at Fortress Investment Group

For any company to be successful and make profits, it must have sound managers who are capable of making solid decisions that place the institution on a path of success and profitability. This is the case at Fortress Investment Group with Wes Edens, Peter Briger and Randal Nardone providing concrete leadership at the firm. Randal Nardone is especially an important Principal at Fortress, who is in charge of Legal and Finance affairs of the firm. Together with Wes Edens, Nardone runs the Private Equity Division of Fortress. This division is tasked with overseeing the income output of the firm’s investments in Europe, the Caribbean, and North America. This is while Peter Briger runs the credit division.

Fortress Investment Group was a child project of Randal Nardone, Wes, and Rob Kauffman. After Nardone left UBS as the managing director, he was quick to identify an opportunity in the finance sector. Leaving nothing to chance, Randal went all in, tugging along Wes and Kauffman, and that saw the birth of Fortress Investment Group. For Randal, this was a vision he always had in mind, during his career at different companies including BlackRock Financial Management and Thacher Proffitt & Wood law firm. As a trained and seasoned lawyer, he was always looking for the best angle and platform to integrate finance and law. Lucky for him, his vision actualized when he co-founded Fortress.

Randal put a lot of energy and passion into Fortress, and that was rewarded in 2007 when the company went public. This made Randal, Peter Briger and Wes Edens billionaires during the initial IPO.

Nardone ranks #557 on the Forbes list of billionaires with a net worth of $1.8 billion. If you summarize, Randal’s decision to form Fortress as a billion dollar decision, Randal nods in complete agreement. However, that was just the first foot to an insanely fruitful career for Randal Nardone. A decade later in 2017, SoftBank would buy Fortress at $3.3 billion. The Japanese firm purchased Fortress shares at $8.08 per share. Given that the shares were trading at $5.83 per share, the acquisition made Fortress investors, Randal, Peter Briger and Wes Edens massive profits. Randal has hailed the deal, as a significant move, that will influence the profitability of Fortress on the higher scale.