In the financial world, there are many experts who are talking about Peter Briger of Fortress, he is the Principal and Co-Chairman of The Board of Directors at Fortress Investment Group. Based in New York City, Peter has been at the San Francisco office now for the last six years or so. With the firm looking to diverse themselves away from its core private equity business, Peter was on the team that handles the debt securities and its real estate business, as well as having more than two decades of experience in asset management. One of his biggest strengths which helped build his wealth is having the skill set for trading assets that nobody wanted, where he bought them low and when the time was right he sold them high.
Before joining Fortress, he worked for Goldman Sachs for fifteen years where he was extremely successful and co-founding the Goldman’s Special Situations Group in 1997. This particular group became famous for its secretive but highly profitable trades. They were credited for being the primary driver of Goldman’s revenue during that time. At the height of their success, his group bought and sold car loans in Thailand, an alcoholic beverage company in South Korea, troubled mortgages in Japan, commercial aircraft as well other ventures.
What they did sounds simple but yet difficult at the same time, the group would buy assets that the average investors would not touch due to a variety of reasons such as political pressures, economic problems or for other reasons.They would buy all these distressed assets at a low price and then sell for a huge profit when the time was right, it was knowing when the time would be right that made was important.
He had senior leadership roles with several divisions that were in the Asian markets that included real estate private equity business, special opportunities fund. He was both the co-head of the Goldman Sach’s Fixed Income Principal Investments Group and the Asian Distressed Debt Business.
Since joining Fortress, Peter is continuing his rise to the top with being credited with the company’s success by raising $4.7bn for a new fund called Fortress Credit Opportunities Fund IV which represented 87% of the total new funds raised by them in that quarter. To his credit even during the economic downturn of the last decade, he was still shining through the clouds by purchasing from banks, governments, and companies the non-performing and risky illiquid assets due to regulatory and shareholders demands. This meant he was able to purchase these at extremely discounted prices and sold them at a high profit, bringing in a nice return for the firm.
The Fortress Investment Group which was founded in 1998 continues to grow its existing business while pursuing new and creative products to meet the demands of their sophisticated investors who expect nothing but high returns on their investments.
There are many words one can say about Peter Briger of Fortress
, such as risk taker, creative, financial genius, gutsy, caring and passionate to name a few. He graduated from Princeton University with a B.A., followed by a Master of Business of Administration from the Wharton Business School at the University of Pennsylvania. He has been in the Forbes magazine top billionaires list as a self-made billionaire which is quite the accomplishment
For Peter, some of his biggest successes are outside the financial world, he is involved in many charities and organizations. His involvement in the Caliber Schools is very important to him as they provide a safe, free and a high quality personalized education that includes a robust academic program for children who normally would not have something like that. Every child no matter the location of their home, deserve a chance to graduate high school and move on to college.
The Tipping Point is another organisation that he is involved with where they are working hard to fight poverty and help those get the help they need to break the cycle of poverty and be part of society again. These are just two of the many organizations he is involved with as well as being on the board. Finding time to help others is a great quality in a human being and Peter is one of them for sure.