Peter Briger, joined Fortress Investment Group in March of 2002 as part of the Management Committee. He is responsible for the area of Credit and Real Estate business, and after being a member of the board of directors for close to 3 years (from November 2006), in August 2009, Briger was elected Co-Chairman at Fortress.Briger’s academic track record consists of an MBA from Wharton School of the University of Pennsylvania, and a B.A. degree from Princeton University, which he received in 1986. Prior to working at Fortress, Peter Briger had a long stint at Goldman Sachs, where he worked for 15 years, having different roles throughout the years. He managed to build his wealth on his knowledge of trading assets that no one wants, specializing in distressed debt.
He co-founded the Special Situations Group at Goldman Sachs in 1997, the group often being credited for being a primary driver of the firm’s revenue in the past decade.Peter Briger left Goldman Sachs and after a few business ventures he joined Fortress in 2002. He is credited with playing a role in helping Fortress Investment Group go public. In 2007 the firm got listed on the New York Stock Exchange with an impressive IPO. While the financial crisis from 2008-2010 is still forcing banks to change their business role models (through regulatory changes), Peter Briger still sees opportunity to profit in the financial sector from distressed assets.In first quarter of the year, the team ran by Peter Briger managed to raise $4.7 billion for a new fund. He continues to be successful in the aftermath of the 2008 financial crisis.
Banks are being forced to sell risky assets (or non-performing ones) due to regulatory demands, which give Fortress and Briger the opportunity to scoop them up at a low price.Besides his executive role at Fortress, he is also a member of various organizations and is actively engaging in philanthropy. Besides helping different causes, such as helping provide quality education and alleviate poverty, Briger invested over $600 million in order to help conserve and maintain Central Park in New York. His professional record gained him respect, and shows that he is an important and valuable player in the financial industry. He is part of Forbes 400 top business professionals in the world, and while his work at Goldman Sachs was successful, it was with Fortress where he became a billionaire.