• 30Jun

    After the deal between Softbank and Fortress was closed last year, many people, especially those in the financial world were curious about the purchase. The Japanese conglomerate admitted that the all-cash sale was more about boosting the operations of the company. Inside Fortress though, Peter Briger and the other executives remain working under the firm.The purchase of the Fortress Investment Group was just part of the billion-dollar plan of Softbank. However, it stood out from the rest of the transactions. Fortress is a significant property lender and investor in Manhattan, and Peter Briger is one of the most critical people in this company.

    The move to buy Fortress would make sense for a financial or real estate company, but Softbank is mostly tech-focused. Based on the observation of some analysts, the company’s recent real estate deals are mostly linked to new startups that want to innovate. It is why the confusion and questions arose when Fortress was purchased as it has existed for about 20 years and already has more than $40 billion worth of assets. However, the head of Vision Fund, the project associated with the purchase, worked with the global investment manager for a short time. It was disclosed that the move to buy was a part of a plan to make an alternative investment division. With Fortress funds soon to be marketed as funds for private and debt equity to the big supporters of Vision Fund, some questions remain, especially about the previous management of the company.

    Still, Peter Briger and the other leaders in Fortress have been working together to make sure nothing has changed inside the enterprise. He is currently the principal and the co-chairman of the Fortress Board of Directors, in which he has been a member of since November of 2006. Three years later, he was elected as one of the chairmen of the company.Since March 2002, Peter Briger has worked as a member of the Management Committee of the firm, and therefore, he was responsible for the real estate and the credit business. Before he moved to Fortress, he was with Goldman, Sachs and Co. in which he became the firm’s partner back in 1996.Aside from all the mentioned responsibilities, Peter Briger also serves at Tipping Point as one of the board members. Tipping Point is a non-profit organization that provides help for families in San Francisco who have low incomes. He also has a network of charter schools that prepare students before they go to college.

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