Wes Edens:Over Three Decades Of Making Bold Investment Decisions
Bold, visionary investor Wes Edens, the co-founder of alternative asset management giant Fortress Investment Group is a native of Montana. He is also married and has four children. Plus, in his free time Wes Edens he enjoy his two hobbies which are horse jumping, a Montana favorite, and mountain climbing, a sport for the strong, brave and skillful. An Wes Edens is all of those things. The Wall Street Journal once described his investing style as being a combination of contrarian bets and creative financing. But he must be doing something right because Forbes lists his net worth as more than $2.5 billion.Wes Edens has almost 35 years experience in the financial services industry. His first job after earning his business administration and finance degree from Oregon State University was with Lehman Brothers.
After working his way up to partner and managing director, Edens left and took the same positions with Blackrock Asset Investors, the private equity division of the global investment management firm Blackrock Incorporated. Edens stayed there for four years and left. Then he got together with Randy Nardone, Michael Novogratz, Pete Briger and Rob Kauffman and co-founded Fortress Investment Group in 1998.New York City based investment management firm Fortress Investment Group went on to become a publicly traded buyout firm in 2007. They were the first company in the United States to do so. In 2006 Fortress Investment Group was a fast-rising private equity with a valuation of between $5 and $7 billion. After the economic downturn Forbes called Wes Edens one of 2008’s ‘biggest billionaire losers’.
But the company sold an 8% share and got $600 million in 2009 and Edens’ investments in Springleaf Financial Services grew 2,700% to $3.5 billion and soon Wes Edens was being hailed as the subprime lending industry’s ‘new king’ by the Wall Street Journal.Among the many positions Wes Edens has held in the financial services industry are co-chairman of Fortress Investment Group’s directorial board, chairman of Fortress Transportation and Infrastructure Investors LLC and Fortress Investment Group’s chief investment officer as well as the company’s the private equity business director. Wes Edens is also on the board of Springleaf Financial Services, Newcastle Investment, Gaming and Leisure properties, New Residential Investment Corp., Penn National Gaming and Nationstar Mortgage Holdings.Wes Edens owns the Milwaukee Bucks of the National Basketball Association and the eSports League of Legends team called FlyQuest.