The Role of Peter Briger in the Growth and Acquisition of Fortress
Peter Briger is commonly known for his high ranking executive role at the Fortress Investment Group. Indeed, he has been key to the growth of the company and has remained a key executive even after the purchase of Fortress by Softbank. But, the Princeton University and Wharton School graduate established his name in the financial services sector long before joining Fortress Group and helped steer the firm into long-term success.
Briger joined Fortress in 2002, after 15 years at the revered Goldman Sachs. In this company, Peter Briger build himself a wealth of financial and management skills that he became a partner of Goldman Sachs in 1996. He has also been the lead investor of Wauwaa firm since joining the organization in 2013. He also serves in different roles including the boards of the Tipping Point Community, CNBC, and the Center for a New American Security.
Barely half a decade after joining Fortress, Briger had already steered the assets management firm into its first massive success. It was in 2007, and the company had made an impressive $3.9 billion in assets. This value was as a result of the different acquisition that Peter Briger initiated alongside his co-principals (Wes Edens, Rob Kauffman, and Randy Nardone). In the same year, the firm became the first privately-held hedge fund to trade publicly. Part of the reason for this decision was to allow transparency in hedge fund firms, which many private managers avoid.
Since 2007, the company proliferated into an asset base worth over 40 billion in 2018. During this expansion period, Briger receives credit as the reason behind the introduction of Real Estate and Credit business as the firm. Besides, Fortress has diversified its services to focus on hedge funds, acquisitions and mergers, investment on assets, managing corporate operations, and investing in the capital markets.
Peter Briger as well, pursues philanthropic activities. In 2015, he joined hands with two Princeton Alumni to roll out the Alumni Entrepreneurs Fund for Princeton Entrepreneurs. The program encourages innovation and creativity among Princeton students and immediate alumni. This would see seed funds of up to 100,000 US dollars given to these alumni for their creativity in entrepreneurship.