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Wes Edens’s Accomplishments at Fortress Group

Wes Edens is a private equity investor, American businessperson, and sports team owner. He co-founded Fortress Investment Group together with four other executives. Wes Edens is the co-owner of Milwaukee Bucks. This National Basketball Association business is located in Milwaukee. Wes is the owner of League of Legends Flyquest team. He went to Oregon State University where he received a degree in Bachelor of Science in Finance and Business Administration.Wes Edens commenced his career journey in 1987. This was at Lehman Brothers where he served as managing director and partner all the way to 1993. After that, he moved to BlackRock Asset Investors private equity division at BlackRock. He worked here until the year 1997 still as a managing director and partner. Wes joined Fortress as a confounder in 1998. Among other principals whom they co-founded the company with were Peter Briger, Randal Nardone, Michael Edward, and Robert Kauffman. Wes’s investment view was analyzed through an article called The Wall Street Journal in 2007.

Wes has been living in 6,000 square foot apartment with four bathrooms for more than 20 years. Fortress Investment Group was founded in the year 1998. It manages a great multitude of assets for diverse clients, which includes both private and public investors. Other services entail asset management strategies, hedge funds, credit, and private equity among others. It manages funds that are worth 73 million shares for Springleaf. Fortress has proudly retained its ownership over the years. Wes runs the private equity business at Fortress. He is behind the great success that the company invested in 2010. He led the purchase of AIG American Finance that enabled the company to be the major stakeholder for Springleaf Company.

Wes is the chairman of the subprime lender Springleaf Financial Services docket. This enabled Fortress to get 80 percent of the Springleaf for $125 million in 2010 that was used to build the financial services in the sector of private equity in the firm. Fortress now manages around $14.3 billion worth of assets for its clients. All these accomplishments are due to the commitment and dedication of the executives and other concerned members. Additionally, Wes Edens is recognized as the chairman of the Nationstar Mortgage. Fortress Company acquired this subprime equity mortgage lender for homes for $575 million in the year 2006.Wes is a proud family man with one wife and four children. He enjoys mountain climbing and horse jumping during his leisure times. These make him relax and have a cool time outside regular work.

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Randal Nardone: Helping Businesses Gain A Brighter Future

In a bid to help other people gain financial freedom, Mr. Randal Nardone co-founded Fortress Investment Group. Basically, he had the idea of helping others gain a good chance of a brighter future. Today, he serves as the Director, Principal, Co-Founder, and CEO at an investment management firm, Fortress Investment Group LLC – an organization focused on providing people with all the chances they require to be successful.Mr. Randal Nardone is an alumnus of the University of Connecticut from where he graduated with a Bachelors of Arts in English and Biology. He also attended Boston University School of Law from where he got a J.D. In 1998, he joined Fortress to become its co-founder and principal and by 2007, he had grown a net worth of $1.8 billion and was featured on Forbes’ magazine’s “World’s Billionaires” list.

Since November 2006, Mr. Nardone has served as a member of the firm’s board of directors but has remained in its management committee since 1998. Currently, he serves as the Vice President and Secretary of Newcastle Investment Holdings Corp.He is also a Member at FOE II (New) LP and a COO (Chief Operating Officer) and Secretary at Impac Commercial Holdings, Inc. Mr. Randal Nardone Co-founded FM Falstaff Advisors LLC which he now serves as both a Principal and CEO.While partnering with the law firm of Thacher Proffitt & Wood, Mr. Nardone served as a member of its executive committee. He also served as Principal of BlackRock Financial Management, Inc. before joining UBS in 1997. From May 1997 to May 1998, he was MD at UBS before coming to co-found Fortress in 1998.

It was not until August 2013, that he was appointed CEO of the company. Before then, he had served as interim Chief Executive Officer for about 2 years (December 2011 to July 2013).Even after co-founding Fortress Investment Group LLC in 1998, Randal Nardone has served as a Director at SeaCube Container Leasing Limited from June 2007 to January 2008 and Aircastle Limited since October 2004.He also worked with doBank S.p.A as a Director. From January 2011 to June 2014, Mr. Nardone was a Director of Brookdale Senior Living Inc. before retiring in July 2014, He had been serving as a Director of GAGFAH S.A. Since, June 2005, he has remained the director of New Media Investment Group Inc. Mr. Randal is a member of the Board of Directors of several firms and organizations including Seacastle, Inc., Florida East Coast Holdings Corp., Fortress Investment Group LLC, Eurocastle Investment Ltd., Florida East Coast Railway Corp., and Springleaf REIT.

Read full article : http://fortune.com/2015/05/18/how-wall-street-got-into-the-wild-world-of-bitcoin/

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Stephen Murray and CCMP’s Legacy

Layoffs and firings are typically something to worry about at the close of the year for those who work in finance. This is done with the intent of stabilizing a work force that will mirror the expected returns and client roster for the coming year. Rarely do cuts to staff factor in at the beginning of the year, and when they do they attract attention.

Earlier this week CCMP Capital has let go of five people from their Manhattan office. Among those separated from the firm is Julie Casella-Esposito, from a division of their human resources after nearly a decade. Following her are Andrew Coren and Jordan Ast, CCMP vice presidents.

Though these losses would seem to indicate some degree of trouble for CCMP Capital as a whole, reports seem to suggest that hiring for operations will resume within the year as a matter of strategic restructuring.

These changes are just another in a long line the firm has made since they resumed investments with their $3.6 billion-dollar fund following the death of Steve Murray, CCMP’s former president and CEO, in late March of 2015. The death of Murray placed an investment clause in effect that halted all trading, common in the finance world in order to protect the interests of clients while the firm fills the position that has been left recently vacant, which may be at the center of the firm’s activity in the approximate six months since.

Steve Murray acted as both president and CEO of CCMP Capital until the age of 52. In April of 2015, he left the firm for what he cited as health related complications. Steve Murray had been with CCMP since 1989 and was present for all permutations of the firm, from it’s partnerships with Chase Manhattan, and then JP Morgan and continued on until they acquired Chase as a property. As a private equity firm, CCMP handled some of the world’s largest accounts. It wasn’t until 2006 that the firm achieved full separation from JP Morgan to become its own entity. The following year was when Stephen Murray took over as CEO.

Murray had a full itinerary outside of his life at CCMP. He held board seats at Octagon Credit Investors, Ollie’s Bargain Outlet, Jetro JMDH Holdings, Crestcom International, Strongwood Insurance Holdings, LHP Hospital Group and Infogroup Inc.

Murray was a graduate of Boston College in 1984, then went on to pursue his masters degree in business administration from Columbia Business School in New York. In his adopted city, he spent a great deal of time supporting the Make-A-Wish Foundation of Metro New York. His philanthropic efforts stretched beyond the city to the Food Bank of Lower Fairfeild County, the Stamford Museum, and to his alma maters Boston College and Columbia Business School.

Greg Brenneman, former chairman of CCMP, who eventually succeeded Murray in his positions as president and CEO of the firm, delivered the statement of his passing to the press.