For those who have followed the growth of the Fortress Investment Group, they are aware of its current Co-CEO Peter Briger. He joined the group in 2002 from Goldman Sachs, where he was a partner. His role in growing the group has been very significant, and it has been reflected in his personal growth within the group. He was already an expert in distressed debt while at Goldman Sachs and had already severed as an advisor at the International Finance Corporation. Within that time, he had also developed a love for credit finance and grown his knowledge on the same significantly.
Once he was tasked with developing the one at Fortress, he knew it was his time to shine and from the first day he brought together other experts who would support his role there. By 2006 he was already a member of the board. This had been brought about by his performance in the division he was leading that was barely four years old. By the following year, Peter Briger would be requested to lead the Fortress Investment Group’s IPO. Fortress was about to become the first asset management company to be listed on the NYSE, and all the partners needed the whole operation to go smoothly. Goldman Sachs and the Lehman Brothers were underwriting the IPO.
Peter Briger would lead the operation successfully which would set the stage for him getting elected as Co-chairman of the group’s board. He would later get appointed Co-CEO a position he holds to date. Peter Briger is well aware of the responsibilities that his positions accord him, especially knowing that the company was recently acquired by an investment bank that is bound to be more aggressive in its investment style as they seek to recover their investments. Peter Briger has however been largely positive about the acquisition. He has noted that the company is now free to make more investment decisions without a need to always go and convince shareholders of any investments made. In the coming days, it will be interesting to see what the San Francisco headquartered division will be doing in terms of investment.