Wes Edens has clearly diversified his portfolio
Wes Edens received a bachelor’s degree in Finance and Business Administration from Oregon State Univerity in 1984. He is a co-founder of Fortress Investment Group LLC which was founded in 1998. Prior to this, he worked at BlackRock Financial Mangement Inc as director and partner. He held similar positions at Lehman Brothers.He posses board membership in the following firms; Springleaf Holdings, New Senior Investment and Group, and Nationstar Mortgage Holdings.
He is the Fortress Investment Group CEO, principal, head of private equity, among others. Fortress is a global leading alternative investment manager firm with over 1500 institutional investors and other clients. It purchased Centex Home Equity Co., a mortgage lender now known as Nationstar where he is the chairman. Fortress was among the first private equity companies to be listed in the security exchange market. It was purchased by Softbank at a $3.3 billion deal which was voted in by shareholders.
This came as a surprise to many since Softbank normally would buy small tech start-ups. Why they bought such a large firm would only make sense because both firms wanted to widen their markets and the need to rebrand may have played part in the deal. Currently Fortress is in the middle of raising two funds in real estate. It will close a $1.5 deal by the end of the year which will go to estate credit. The other will go to loans having a backing in airplane leases.
It has provided credit in a number of firms in New York. Bruce Eichner’s condo, Maefield Development, TSX Broadway, a hotel development that is said to be worth approximately $4 billion as of 2023, are some of the project it’s provided credit to. Wes Edens has not shied of investing in other industries. He has economic interests in the media, healthcare, infrastructure, and transportation.
In 2014, he purchased Milwaukee Bucks, which is in the sports business for over half a billion dollars. Wes Edens sought for investors for a tech golfing entertainment hub in 2016.On July 2018, he and an Egyptian billionaire, Nassef, bought a controlling stake in England Football Club, Aston Villa. Villa was in serious financial crisis, it had spent over 70 million Euros in on transfer fees and had still failed to manage double sixes with the dice falling off, and rendering their wallet clean. With commuter problems being faced getting around the South part of Florida Brightline may be their solution from the current state of affairs. Wes Edens owns the rail system and might have just found his next money mint.