The Co-Founding of Fortress Investment Group

The Fortress Investment Group can be defined as being one of the most successful financial management firms in the USA. It was established in 1998 and has over the years grown to win many awards such as the 2014 Hedge Fund Manager of the Year. The group was co-founded by Wesley Edens, Kaufman and Randal Nardone. Rob Kaufman retired from the group in 2012, but both Wesley Edens and Randal Nardone are still engaged in its operations. Randal Nardone acts as the director of the group. He is placed in the 557th position of the Forbes Billionaire list that equally includes Wesley Edens. Before retiring Rob Kauffman served as an investment banker and a race team owner. In the case of Edens and Nardone, they both worked at the Blackrock Financial Management Inc where they attained vital skills in financial management and leadership.

Operations of Fortress Investment Group

Fortress Investment Group has diverse operations in the financial sector that have helped it remain both competitive and profitable in the past. It is one of the first private equity firms to be publicly traded with the move being attributed to its financial performances. It became listed in the NYSE in 2007 and managed alternative assets that are worth more than $ 70.2 billion. Since its creation that Company has grown rapidly and netted 39.7% earnings in the period 1999 to 2006. The success is attributed to the investment and management strategies employed by the professional team.In 2014, the Softbank Group which is based in Japan made public its intention to acquire the Fortress Investment Group.

The Softbank Group Corp viewed it as being an ideal way through which it could improve its  financial services.The deal saw the Japanese Conglomerate become the parent company of the investment group. However, this did not alter the management and leadership of the team. On the contrary, Randal Nardone was maintained at its leaders. The Fortress Investment Group remains as an independent business that is under the Softbank Group Corp. The deal has been beneficial to the financial management firm as it has improved its global stance in financial services. On the other hand, Softbank Group Corp has increased company product portfolio in both financial and telecommunication services.

The Transformation of Fortress Investment Group after Acquisition by SoftBank

It’s barely a year since the acquisition of Fortress Investment Group by the big multinational organization of Japanese nationality, SoftBank. This was a transaction that left many tongues wagging, both in the industry and also in public. People wondered what fate was awaiting Fortress in the future. A lot of investors who had put their wealth under the company’s management had got into the panic mode and suspected that the company was going “under.” However, all these anticipations and suspicions were very far from the truth.

The reality came to indicate that Fortress Investment Group has even grown into a more vibrant company. Both its growth and assets under management have skyrocketed, something that many never anticipated. For instance, before the acquisition, the company’s managed assets had barely raised over $43 billion. Currently, as we speak, the total assets under the management of Fortress Group have shot upward to approximately $64 billion. This has been attributed to the leadership of the company that remained unmoved even after the acquisition process. The previous heads of Fortress; Wes Edens, Peter Briger, and Randal Nardone continued to be the champions of the company although the operations of the organizations were being run under SoftBank.

The other aspect that has benefited Fortress Investment Group from the acquisition is the leverage it has experienced from the huge clientele base and reputation of SoftBank Group. Being an international organization that has a customer base from every corner of the world, Fortress Group has benefited from this business relationship with the company since it requires fewer expenses to woe clients of the acquirer. This has been an exceptional transaction starting from the beginning. First, it was done on a cash basis. SoftBank produced a total of $3.3 billion to complete the purchase process. This was after meeting all the regulatory requirements that are required to make the process legally binding; for instance, the agreement of all the shareholders of Fortress Investment Group to carry on the transactions, and also the compliance with the regulatory authorities and rule that govern mergers and acquisitions. SoftBank deals with the technology, telecommunication and the transport sectors, all of which have a lot of potential clients that Fortress is likely to enjoy.

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CEO and Founder of Southridge Capital Stephen Hicks

If you’re not already familiar with Southridge Capital, allow this article to provide you with a brief overview of the diversified financial holding company. Founded in 1996, Southridge Capital is a firm that specializes in investment and advisory services, catering primarily to small and middle market companies. At the helm of Southridge Capital is Founder and CEO Stephen Hicks, a businessman with over 30-years of experience in the investment sector.

 

Under Hicks’ leadership, Southridge Capital has entered into an equity purchase agreement with Elite Data Services, a Florida-based technology-driven marketing, management and retail operations company. This equity purchase agreement is quite possibly the most enterprising endeavor to date for Southridge Capital.

 

According to prnewswire.com, an online distributor of press releases, backed by Southridge Capital, Elite Data Services will be able to leverage their use of proprietary technologies to market and advertise solutions aimed at generating revenue for existing businesses across a diverse number of fields. And according to several reports, these fields are slated to include the gaming, automotive, and hospitality industries.

 

As far as Stephen Hicks’ background is concerned, he attended Fordham University where he earned an MBA in Finance, in 1983. After completing his education, he began his career with Wertheim Schroeder and Company, serving as the Head of Proprietary Derivatives Trading. Hicks maintained his role Wertheim Schroeder and Company until 1990, before going on to broaden his career horizon by joining Trans-Pacific Capital where he served as the company’s Fund Manager.

 

Needless to say, these two roles, along with his education, played an integral role in Hicks’ career growth, and in 1996, he decided to embark on an entrepreneurial journey that led to him becoming the Founder and CEO of Southridge Capital. Since it’s inception, Southridge Capital has helped a myriad of small and middle market companies achieve their respective business goals. In fact, the diversified financial holdings company has invested nearly $2 billion in their efforts to help scale a variety of companies worldwide.

 

So what’s next for Southridge Capital? Ostensibly, they will continue to invest in small to middle market companies, giving special attention to Elite Data Services, which currently shows immense growth potential. You can visit their Facebook page.

 

 

Read more: https://www.prnewswire.com/news-releases/southridge-capital-enters-into-a-5-million-equity-purchase-agreement-with-elite-data-services-inc-300118746.html

 

Sahm Adrangi Does Not Like What EKC Has Done

Sahm Adrangi is the Chief Executive Officer of Kerrisdale Capital. In a surprising turn of events, the CEO has issued a negative report relating to the prospects and performance of Eastman Kodak Company. Adrangi says that KodakOne and KodakCoin are smokescreens that will be blown away soon. The Kerrisdale executive does not mince his words relating to the developments in which Eastman Kodak has seen its shares rise by over 187%. Adrangi cautions that the spike in the shares owned by Kodak is not based on facts but mere hype. Mr. Sahm Adrangi, further, observes that Kerrisdale holds a short position in the company and is set to gain; if Kodak fails as it is expected in the near future.

 

The Negative Report

The Kerrisdale Capital CEO says that Kerrisdale Capital is sure of smiling its way to the bank owing to the mistakes that EKC has made. In a report issued vial CNBC, the CEO points out that the recent rise of EKC shares are baseless, and termed them as hot air. EKC offers printing and imaging services to commercial clients across the globe. Prior to the rise in share prices, Eastman Kodak had announced a partnership in which it was seeking to launch an image licensing cryptocurrency platform powered by blockchain technology. In the CNB report, the Kerrisdale official says that the whole venture is not but smoke and mirrors.

 

How Eastman Kodak Will Be Affected

According to the CEO of Kerrisdale Capital, Sahm Adrangi, and the company in general, the concept that Kodak was selling regarding KodakOne and KodakCoin was a hoax, and that the two entities were unlikely to give Kodak customers a return for their investments. Pundits say that if the prediction by the Kerrisdale team does come to fruition, Kodak will be subjected to a rude shock for its business. Mr. Sahm Adrangi clarifies that since his company holds a short position, they stand to gain from the backlash and failure by Kodak to deliver on its promised business ventures.

 

About Kerrisdale

Kerrisdale Capital is a private equity services provider and an asset and investment manager in the USA. Kodak announced that it was launching a blockchain enabled licensing platform and a cryptocurrency. Kerrisdale says it does not believe, even for a second, what EKC are saying. Kerrisdale Capital specializes in long-term investments and an opportunistic venture at situations that are catalyzed by certain events. Although Kerrisdale has nothing to lose, it highlights that the practice demonstrated by the senior management at EKC is worth investigation by the SEC.

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Louis Chenevert: Working at United Technologies Corporation

There are certain moments in everyone’s life when they were at their happiest. For some people, their happiest times were at the office. That may sound weird considering how much most people hate going to work, but people who love what they do don’t consider the office a workplace; it’s a second home.

For people like Louis Chenevert, working is something that’s hard for them to give up. After 40 years of working, he’s gotten really close to retiring age, but he’s having trouble giving it all up. He’s not stuck on making a bunch of money or anything like that.

It’s just that he loves working, and the time he spent working at United Technologies Corporation was the happiest years of his life. According to all the positive things people say about him, it appears his years at United Technologies Corporation were also the happiest times of a lot of people’s lives.

It may sound like he worked there forever, but he didn’t join United Technologies Corporation until 2006. Before that, he worked at Pratt & Whitney for 13 years; before that, he worked at General Motors for 14 years. When he started working for United Technologies Corporation, he knew he’d found something special.

Unlike all those other companies, United Technologies Corporation was a place where everyone stayed focused. Running such a global company offered him the chance to learn from and teach people from all over the world. United Technologies Corporation is still one of the most successful global companies in the world.

The objective of everything that United Technologies Corporation did was to develop game-changing technology as quickly as they could. Every small team had brilliant engineers and was led by one main operational leadership team.

By bringing all these people together and leading them by example, United Technologies Corporation began exceeding their customers’ expectations every time. It’s a wonder why Chenevert retired from United Technologies Corporation, leaving the company in 2014 to work at Goldman Sachs.

https://www.dailyforexreport.com/louis-chenevert-leadership-investment-innovation/