In the year of 2007 a significant event occurred. This event was the initial public offering of the United States of America’s first private equity investment firm. This marked the first time that a private equity investment firm with the publicly traded company in the history of our nation. At the time of its debut on public markets one man Peter Bridger became a billionaire. At the time he owned 66 million shares of the company that together created a total valuation of greater than $2 billion. However this has not always been the case as today stock of the company is down by 74% since the initial public offering. Although this may seem like a significant loss to his net worth Peter Bridger continues to operate at a high level in the world of alternative asset management.
He originally began his career at Goldman Sachs one of the largest financial industry corporations in the world. He worked at Goldman Sachs for 15 years as a partner for the company. In 2002 he left Goldman Sachs in order to join Fortress Investment Group. Fortress Investment Group brought Peter Bridger on to their team in an effort to diversify the company’s holdings away from its primary business in private equity. Today Peter Bridger serves as the principle of fortress and is a cochairman of the board of directors for the corporation. He has managed to build himself a substantial amount of wealth through trading assets the other individuals did not want. He is always specialized in the purchasing of distressed debt. He cultivated that the specialty during his time and his tenure at Goldman Sachs.
While he was there he managed to create a significant amount of revenue for the corporation, however he felt that he was undervalued and left the corporation.After leaving Goldman Sachs and becoming a member of Fortress Investment Group Peter Bridger was able to raise over $4.7 billion for the company during the first quarter of this year. This is representative of over 87% of all funds that have been raised by Fortress Investment Group during this quarter. Peter Bridger has been able to generate significant returns utilizing distressed assets in the aftermath of the 2008 financial crisis. By purchasing assets and a hefty discount due to corporations and businesses not being able to make payments on time he has been able to generate returns of up to 25% on his investments.
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