If you explore Pete Briger’s profile, you’ll see many of the things you expect to see. He is a Forbes Top 400 business professional who has made the Forbes List of billionaires on more than one occasion.
Before the Great Recession Briger was a real mover and shaker in the financial industry. He had honed his skills in foreign investing for 15 years at Goldman Sachs, assuming leadership roles that dealt with Asian markets. More specifically, he sought leadership roles dealing with distressed debt, loan sales and trading, Asian real estate, special Asian investment opportunities and more. He was a member of the Global Control and Compliance Committee, the Asian Management Committee, and the Japan Executive Committee. By 1996, Briger was a partner with Goldman Sachs.
Fortress Investment Group
In 2002, Pete Briger joined Fortress Investment Group LLC, a private investment management firm. Today he is a principal and Co-Chairman of the board. He has served on the Board of Directors since 2006 and as Co-Chairman since 2009. Fortress Investment Group LLC took a hit, like all businesses within the financial industry, during the Great Recession.
But the firm has managed to regroup and, in some ways reboot. The willingness of the group to invest in debt that others don’t want to touch allowed it to recover faster than many others in the financial industry making Fortress the firm for all seasons it was designed to be. By allowing different parts of the firm to pick up the slack when other parts were struggling, it allows the firm to see consistent progress.
There are three main players at Fortress today. They are:
- Wesley R. Edens
- Randal A. Nardone
- Pete Briger
The financial crisis did test the firm’s hardiness and hit the personal finances of the firm’s investors’ private funds too. It seems though the Briger’s credit group has experienced the strongest recovery since 2008.
Fortress prides itself in offering both traditional and alternative investment strategies for private investors and businesses on a global scale.
Today the firm is in a strong state of recovery and was responsible for managing assets of nearly $70.5 billion at the end of 2015. Fortress Investment Group was named “Hedge Fund Manager of the Year” in 2014 by Institutional Investor. In the same year they were named “Management Firm of the Year” by HFMWeek. Institutional Investor also recognized Fortress in 2012 as “Discretionary Macro-Focused Hedge Fund of the Year” in 2012 and “Credit-Focused Fund of the Year” in 2010 and 2011.
Briger’s current responsibilities at Fortress Investment Group have him overseeing the group’s real estate business and its credit fund.
Fortress also dedicates itself to giving back to the local communities it serves and encourages its employees to do the same. Some of the charities Fortress serves include:
- City Harvest
- Donors Choose
- Food Bank for New York City
- New York Cares
- Oxfam International
- Partners in Health
- Joe Torre Safe at Home Foundation
- Sanctuary for Families
- Smile Train
- Toys for Tots
In fact, Fortress employees, along with the company, have given a collective $3.8 million to more than 700 charities at home and around the world.
Education and Background
Pete Briger’s profile includes information about his education that includes his graduation from Princeton University where he earned a Bachelor of Arts degree. He then attended Wharton School of Business at University of Pennsylvania where he earned his MBA. His work at Goldman Sachs provided him with the foundation he needed to succeed in a market where so many other business leaders were failing and failing large. With that in mind, it should also appear in his educational and background material as it was a 15 year education for Briger.
Pete Briger Personal
Outside of business, Pete Briger is committed to a number of philanthropic causes. He is particularly interested in charitable causes that support children, education, and the alleviation of poverty.
Briger also serves on the Silicon Valley Leadership Council for the Global Fund for Children and he serves on the Council on Foreign Relations – the non-partisan group working to create a broader understanding of foreign policy matters between the general population and elected officials. He also supports the Tipping Point Community and Caliber Schools.
Briger is married with four children and currently lives in the Bay Area. Some may believe he has led a somewhat charmed life. Arguably he has made bold moves that have resulted in great success for him in the world of business. He seems to have his fingers on the pulse of what’s going on in financial markets around the world a keen eye for making the right moves at the right time. Even during a worldwide economic recession Briger was able to find a way to bring profit to Fortress and to himself. The man truly is worthy of his position on the Forbes 400 and we should expect to see him there again in the future.