It takes an individual with exemplary skills, experience, and a high affinity to risks to invest in undervalued, distressed and illiquid investments. These are areas that are all considered highly-risky, and most investors shun and would never consider coming near them. However, few individuals are daring enough to venture and are now making a kill in these areas. Topping the list of these few is Peter Briger, one of Fortress’s principals who thanks to his risk-taking nature now enjoys being one of Forbes top 400 business professionals.
Peter Briger’s ability to venture in an area that most entrepreneurs wouldn’t dare has not only seen him reap big but has also benefitted Fortress Investments big time as he has helped expand the firm’s credit fund division and has brought in massive revenues. It is, however, vital to note that Briger’s prowess in turning undervalued and illiquid assets into profitable investments is as a result of years of experience.
Before joining Fortress, Briger spent more than a decade at Goldman Sachs where he and a colleague would purchase troubled assets in other countries, hold them until markets stabilized and then resell them at a profit. Even though it might sound simple, managing to sell such assets is no walk in the park as it requires convincing potential clients why they should consider investing in assets that were already a failure. However, time and time again, Peter Briger and his colleague managed to make this look easy and even went ahead to establish a Special Situation’s group at Goldman Sachs. When he joined Fortress in 2002, he, therefore, became a valuable asset as he had a lot to bring to the table. This is proved by the fact that he managed to raise approximately $4.7 billion within his first quarter in the company.
Giving back to society
Peter Briger’s has not only benefitted Fortress Investments but the community as well. As a man with a big heart and extra zeros in his bank account, Peter Briger goes out of his way to ensure that other budding entrepreneurs get to live their dream through his donations to the Princeton alumni entrepreneurship fund which he also co-founded. He is also a member of the Center for a new American society non-profit organization which focuses on the development of stronger security and defense policies. Other charity organizations that he is a part of include Tipping point, the Global Fund for children, Central Park Conservancy and a hospital for special surgery among many others.
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