Hometown Journey

How Peter Briger Has Succeeded At Fortress Investment Group

Fortress Investment Group LLC is a multinational investment manager. It was one of the biggest alternative asset managers in the world with about $43.6 billion in assets under management. This firm was founded in 1998 in New York City. One its top executives is Peter Briger who is a principal of this firm as well as the co-chairman of its board of directors. He is a graduate of Princeton University and the University of Pennsylvania.Peter Briger works at Fortress Investment Group’s San Francisco, California, offices. He was elected to this company’s board in 2009 and has been with it since 2002. His main role at Fortress Investment Group is to operate its credit fund and real estate sides of the company. Prior to working at this firm he had worked for Goldman Sachs Group, Inc., for 15 years.

Throughout his career his primary specialty in the financial industry has been buying distressed debt. While he had worked at Goldman Sachs, Peter Briger had co-developed their Special Situations Group. This group, which was founded in 1997, has often been named as the main source of Goldman Sach’s revenues and profits since that time. When Peter Briger had worked at Goldman Sachs he handled a lot of distressed debt from around the world. This is debt that nobody else wants to buy but which he sees as a great opportunity since he can often buy it for pennies on the pound.

Among the debt he had bought there was a South Korean alcoholic beverages firm, a power plant in the United Kingdom, and a commercial aircraft company based in South Korea. He says that after the financial recession hit he found a lot of great opportunities. He says that banks and governments had to sell off anything they perceived as a risk of default which he was more than happy to scoop up for Fortress Investment Group.Peter Briger is a philanthropist who has helped a number of San Francisco-based charities. Among these is Tipping Point for which he serves on its board of directors. This nonprofit provides services to low-income families. He is also on the board of Caliber Schools which runs a number of charter schools. Additionally, he has a leadership position for the Global Fund for Children which helps impoverished children around the world which supports the rights of children and helps those in poverty.