Before co-founding fortress investment group, Wes Edens had already proven his worth in the financial management and investment world. The success he and his partners would achieve wit Fortress less than a decade into the life of the hedge fund would nonetheless come as a surprise to most industry players.
Within this time, the company accumulated one of the largest base of assets under management diversified its portfolio tenfold and issued its first IPO. Two decades later, Fortress group remains an iconic tower in the financial world attracting the attention of Softbank that acquired it for $3.3 billion. But what was Wes Edens role in building this success?
- Managing its sublime lending department
The success that Wes Edens reported while managing this sector has earned the nickname, ‘New King of Sublime Lending.’ This started when he led Fortress investment group into acquiring an illiquid Springleaf Financial Services at the height of the housing and subprime lending crisis in 2009.
Less than five years later, the fortress subsidiary had bounced back to leading the field with over $3.5 billion assets under management. He would also replicate this success with Nationstar mortgage, formerly known as Centex Home Equity Company LLC. See more on Wikipedia
- New unconventional investments
Apart from subprime lending, Wes Edens also has a knack for unconventional investments. While every other hedge fund manager is looking forward to investing more in distressed debts, stocks, and bonds, Wes is loon for more lucrative but unconventional investment opportunities.
This explains why he led Fortress Investment group where he serves as a Chairman, into investing into e-sports. Today the company runs an e-sports franchise, Fly quest, that recently made it to the top ten permanent members of the North American League of Legends championship series.
- Guiding its shift towards more liquid and permanent investment structures
After the 2007/8 real estate crisis that brought don with it the entire financial market, Fortress investment group evaluating options of getting out of the illiquid investment markets. With time, the co-founders would come up with a different investment option that have already materialized, such as the Virgin Trains USA, and several others that are in the pipeline. Wes Edens is particularly credited with the decision to set up a clean energy plant, New Fortress Energy, that is already making waves in the global oil and gas industry.
Read more: https://www.fortress.com/about