As one of the largest alternative asset managers in the world, Fortress Investment Group’s Peter Briger has a track record of facilitating important business deals in the financial sphere. Peter Briger is Principal and Co-Chairman of the Board of Directors at Fortress Investment Group. Briger was hired by Fortress in 2002, and took quick action by building their securities and real estate business. Fortress Investment Group, which promoted Peter Briger to Principal and Co-Chairman, was strategizing a move in a direction that did not concern its core business of equities.
In 2015, Peter Briger built a team at Fortress that successfully raised $4.7 billion to create a new fund, “Fortress Credit Opportunities Fund IV.” Briger also made wise decisions concerning non-performing and alternative assets. Mr. Briger and Fortress Investment Group were able to purchase these assets at a deep cut in prices. One of Peter Briger’s strengths is to procure many alternative assets cheaply, then sell them later, at a higher rate of return. Briger has had quite a strong track record making successful business moves by earning big returns from distressed assets. And especially ones from different industries.
Before Briger became the Co-Chair and Principal at Fortress, he worked under the tutelage of Goldman, Sachs and Co. Briger worked for them for approximately 15 years, before making Partner in 1996. During his tenure at Goldman, Sachs and Co., Briger sat on many different committees, which included the Japanese Executive Committee, the Asian Management Committee, and the Global Control and Compliance Committee.
Peter Briger also co-founded the Special Situations Group while at Goldman, Sachs and Co. It was noted that Briger and his group were partly responsible for being Goldman’s main revenue stream — back in the mid-2000s — when the markets were reeling from the Great Recession. Because of Briger’s educational background, financial savvy, and wise investing, Briger’s employer, Goldman, Scahs, and Co., persevered.
Peter Briger’s educational foundation included a Bachelors of Arts that he earned from Princeton University in 1986. Briger also earned an MBA from the University of Pennsylvania’s Wharton School of Business.
In terms of his philanthropic pursuits, Briger provided time and financial support to many causes. Peter Briger, along with two of his fellow Princeton alumni, provided gifts to their alma mater in 2015, to develop a pilot funding program. This program, Alumni Entrepreneurs Fund (AEF), was created to assist new Princeton graduates who were interested in founding companies, or picking the entrepreneurial path. AEF provides recent alumni startups with up to $100,000 dollars in the form of peer-to-peer learning, matching funds, and mentorship opportunities throughout a full year.
In lieu of Peter Briger’s strong interest in alternative assets equities, Briger also considered getting involved in cryptocurrency. However, another financial entity that Briger discussed creating a regulated, U.S. based, Bitcoin exchange with in 2014, opposed Briger’s idea.
At 43, while working at Fortress, Briger was ranked #407 on the Forbes list of World’s richest. In 2007, his estimated worth was approximately $2.3 Billion.
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