Fortress Investment Group sold its 40.5% stake in OneMain Financial for $1.4 billion and as a result, is relinquishing one of its largest subprime lending assets within its vast portfolio. Fortress Investment Group purchased OneMain Financial in 2010 as it expanded its portfolio that consists of various subprime lenders that dominated the mortgage and auto lending services provided to subprime borrowers and establish the company as one of the largest and most successful subprime lenders in the world. Fortress Investment Group currently has over $30 billion in assets under management for it’s over 1750 institutional and individual clients from around the world. Fortress Investment Group is led by exceptional Co-Chief Executive Officers Wes Edens and Peter Briger who both bring a high level of analysis and evaluation talent and experience in the alternative asset industries that have propelled Fortress Investment Group to heights unforeseen in the buyout industry.
In fact, Co-Chief Executive Officer Wes Edens at Fortress Investment Group is also Co-Owner of the Milwaukee Bucks and has provided exceptional analysis and evaluation techniques to generate astronomical returns on investment in private equity and real estate. Wes Edens was named the king of subprime lending after successfully expanding the subprime portfolio at Fortress Investment Group to become the largest subprime lending investment firm in the world. Furthermore, Peter Briger the other Co-Chief Executive Officer has brought high-level insight and evaluation of the credit business within Fortress that has been invaluable in the companies continued growth and expansion as an alternative asset company leader. Peter Briger established himself as an intelligence expert in credit analysis and evaluation for the Fortress Credit Business that has propelled the organization to become a leader in credit investment industry. The success of Fortress Investment Group has been established and fostered by the two chief executive officers and also from a well-equipped management staff that exceeds expectations to deliver high returns on investment for its clients. Fortress Investment Group invests in various categories of assets that are underperforming, distressed, and illiquid.
Some of those categories include real estate, stocks, cryptocurrencies, credit, bonds, dividends, and various other asset classes. The company was founded in 1998 and quickly became one of the most respected and powerful investment firms in the alternative asset class in the world. The company has strategically positioned itself as a reliable evaluator of alternative asset classes that generates exponential returns on investment from the shrewd evaluation of distressed opportunities. OneMain Financial was acquired by Fortress in 2010 and became one of many subprime lenders that Fortress invested in to become the most powerful subprime lending investment firm in the world. By providing opportunities to invest in regular individuals that are subprime creditors, Fortress established itself as the go-to subprime lender for the general population. In January 2018 Fortress Investment Group agreed to sell its stake in OneMain Financial for a $26 per share to Verde Partners and Apollo Global Management a group formed for the purchase of the 40.5% stake for $1.4 billion sale price.