Wes Edens Role In Fortress Investment Group
Being successful in the industry of finance is not an easy task. There is one man who has proven himself more than almost any other individual in all of America over the last several decades. This man is known as Wes Edens. Wes Edens is perhaps best known for his role in the American economy as being the co-founder and current chairman of the board of directors for Fortress Investment Group. Fortress Investment Group entered American economic history in 2007 by becoming the first private equity investment firm to be publicly traded on the New York Stock Exchange.Wes Edens originally began his career by attending Oregon State University. He attended the University for several years and in 1984 he graduated with a bachelors of science degree in finance and business administration. He then began to wet his teeth in the finance industry by working for well-known investment firm Lehman Brothers.
At Lehman Brothers, he was a partner and managing director from the years 1987 until 1993. In 1993 he decided that he would like a change of pace and began working for Blackrock asset investors where he remained until 1997. During his time at Blackrock as investors, he served as a partner and managing director for the investment firm. After these several years of financial industry experience, he decided that it was about time for him to launch his own investment firm.In 1998 with the help of four other individuals he created Fortress Investment Group. This is a private equity investment firm that was known for its creative financing and its ability to build successful businesses through profitable investments.
In February 2007 Fortress Investment Group became the first American private equity investment firm to be publicly traded on the New York Stock Exchange. The initial public offering for the company was underwritten by Lehman Brothers and Goldman Sachs. By the end of 2009 8% of the company’s shares have been sold for a total of $600 million to the public. Wes Edens has continued to serve as the company’s chairman and chief of the administrative staff.In 2017 Fortress Investment Group was acquired by Japanese technology company Softbank group Corporation. During this corporate acquisition, Fortress Investment Group was able to generate $140 million in valuation by charging Softbank Corporation a $2.25 premium on the share prices in comparison to the shares market value that was currently being traded on the New York Stock Exchange.