Peter Briger: The Successful Leader of FortressJanuary 14, 2019 - Author: steph
Peter Briger is the famed co-chairman and astute Principal of the Fortress’ board of directors. Fortress Investment Group LLC is a prominent global investments manager of a whopping $42.1 billion in assets. Fortress Investment Group’s debut on the public market, in February 2007, declared Peter to be a billionaire. His 66 million shares were equivalent to $2 billion. Unluckily, the company’s stocks reduced bringing Briger’s shares to 44 million, which is equal to $350 million. Briger is still a rich man despite the company’s shortcomings. He is an active investor in special assets. Read this articles at bizjournals.com to learn more about Peter Briger.
How Briger Made it
Briger has created his wealth through trading assets. He has expertise in distressed debt, which he displayed when he co-founded the Special Situations Group of Goldman in 1997. This group is popular for its profitable trades and the leading revenue producer of Goldman. Peter Briger and McGoldrick, Briger’s colleague at Goldman, bought and sold troubled mortgages in Japan and car loans in Thailand. Briger’s group bought assets that were unproductive because of political pressures or economic problems. They would retain the assets and sell them when the market was stable.
In Fortress, Briger has helped the company by buying non-performing and illiquid assets from the governments and banks and turning them into successful ventures. He is responsible for the credit opportunity funds that have generated internal rate returns of 12.7%, 17.8%, and 25.2%.
Briger’s Other Ventures
Peter Briger joined the board of advisors of the Center for a New American Security or CNAS in 2017. The board of advisors consists of leaders from the government, private sector, and academia. These members help the Center to conduct research and develop its community of interest. Briger’s role encompasses executing and developing CNAS’ intellectual agenda.
The Background of Briger
Since March 2002, Briger has been an active member of the company’s Management Committee. He is also in-charge of Real Estate and Credit business at the company. Peter Briger worked at Goldman for fifteen years before joining the Fortress. Currently, he is a board member at a San Francisco-based non-profit organization for low-income families. Briger also serves as a committee member of a network of charter schools, Caliber Schools, dedicated to preparing students to succeed in colleges.