Recently, Fortress Investment Group acquired Worth Avenue, a fascinating shopping thoroughfare located in Palm Beach, Florida. Worth Avenue housed Tiffany & Co. before the acquisition and will continue to accommodate the company after the acquisition. The purchase cost Fortress an amount of up to $20 million.
Worth Avenue property was sold after two business-oriented development organizations joined hands for its purchase. New York-based Kean Development Co. and Hyde Retail Partners are the new proud owners of top Florida’s shopping thoroughfare. Fortress Investment Group managed the funds used in the purchase hence its involvement in the business deal. The aim of acquiring the property is to make it even more productive.
Fortress Investment Group also had a successful business deal with SuperCom. SuperCom is an organization that has its specialties in offering security solutions for both governmental and non-governmental organizations in areas to do with finance and healthcare systems among others.
Fortress gave funds worth $20 million in credit form to boost SuperCom’s finances used for the various business operations. The credit is to last for four years and should be paid at an interest of a range between 7% and 8% with a LIBOR on any outstanding balance. The CEO of SuperCom, Arie Trabelsi, expressed his pleasure in the development through a statement released by the company.
Another recent development from the Fortress Investment Group is with its rail transport system, Brightline. The recent partnership between Brightline and Virgin Group (owned by Richard Branson’s) will change the system’s brand from Brightline to Virgin Trains USA. Virgin Group leads renowned global travel companies. The firm was brought on board to help with marketing and planning due to its expertise in the area.
Basic information about Fortress Investment Group.
Randal Nardone, Rob Kauffman, and Wes Edens came together in 1998 to form Fortress with the aim of offering services around credit providence, real estate management, private equity, and other various capital business ventures. Over the years, Fortress has grown and now mans assets of up to $41.4 billion according to a recent assessment. It has almost a thousand employees worldwide all managing assets of different kinds.
Peter Briger is the incumbent president of the Fortress Investment Group, a leading investment manager globally. He also serves as a Co-Chairperson of the company’s board of directors. Being a finance and investment guru, Peter belongs to the Forbes top 400 business professionals internationally.Before leaving to Fortress Investment Group, Peter Briger had been serving at Goldman Sachs & Co., as a partner. On arrival at Fortress, Briger’s impact could not be ignored. Under his management, Fortress Group’s Assets under management skyrocketed from a meager $3.9 billion to the highs of $32 billion by 2007. This saw the firm announcing its first Initial Public Offer (IPO) despite being a private equity company of a large magnitude. This event made history and what followed was other investment firms of its type imitating the innovative move.
Peter obtained his undergraduate degree at the Princeton University and later proceeded to pursue his Master in Business Administration at the University of Pennsylvania’s Wharton School of Business. He later began his professional career in finance at the Goldman Sachs Co., where he served in a variety of leadership, operational and management roles.With the help of theoretical knowledge that he had acquired during his pursuit for both Bachelor’s and Master Degree, Peter Briger managed to gain extensive expertise and skills at Goldman Sachs, which was an investment banking company. He was able to develop and boost his proficiency in real estate, foreign investments, trading, loans and distressed debt. His accurate intelligence in finance later saw him become a partner at the renowned investment bank. Later, he made his next move to Fortress Investment Group where he became and still is, a co-Principal.
During his fifteen years that Peter Briger worked for Goldman Sachs, he gained wide knowledge and experience. This is what assisted him to raise Fortress Group to incredible heights that no one anticipated. For instance, under his able leadership at the company, Fortress has received numerous industry accolades, especially between 2010 and 2015. The company’s assets under management have also increased to an excess of $65 billion. These assets belong to both private and institutional investors.One outstanding attribute about Peter Briger is that besides his professional commitments, he also serves other roles that are focused towards the improvement of the society. Peter engages in philanthropic activities that mainly focus on providing quality education, alleviation of poverty and also helping needy children that come from marginalized communities.
A recent article was written concerning the Oxford Club giving four smart investment strategies. The Oxford Club is an international and private network of entrepreneurs and investors. They provide their member’s time-tested and exclusive strategies and principles made to beat average returns in several asset classes and outperform the stock market. The Oxford Club covers commodities, stocks, bonds, base metals, precious metals, mutual funds, real estate, cryptocurrencies, and exchange-traded funds.
Being established nearly three decades now, the Oxford Club’s team of research and strategists perform intense research on different asset classes to determine investment opportunities with the least bit of risk and the largest potential returns possible. And even though investment is not guaranteed, their strategies can assist you to earn higher returns this year no matter the status of the markets.
The four key investment strategies are as follows:
An Investment Diet that’s Well-balanced
- An Investment Diet that’s Well-balanced- diversity is crucial to long-term success in investing, but you should diversity among risk levels, sectors, and numerous stocks.
Possessing an Exit Strategy
- Possessing an Exit Strategy- being a good investor also includes knowing when to sell. It’s very important to know how and when you plan to sell before buying.
- Size Matters- The Oxford Club employs a position-sizing formula to see the amount to invest in a certain stock and different assets’ classes differentiated by risk. The success of their members came from their investment positions’ resizing and rebalancing.
Reducing Investment Costs
- Reducing Investment Costs- through the fees of fund managers and the tax collector, and fees, such as a back-end load, a front-end load, and surrender penalties, should be avoided. The Oxford Club also teaches their members how to create a portfolio which leaves a very small amount to the IRS for taxation, thus holding stocks long enough to prevent short-term capital gains, taking smart and full advantage of tax-deferred accounts of investment, using capital losses in terms of taxes, and avoiding rapid investments’ turnover minimizing incurred tax liabilities.
About The Oxford Club
The Oxford Club is an international and private network of knowledgeable and trustworthy entrepreneurs and investors. Their object is to assist their members to protect and grow their wealth. They have over 157,000 members in more than 130 countries.
The original name of this organization is the Passport Club. They launched in 1989 and took their current name in 1991 reflecting their combination of modern technology and old-world sensibility.
Chris Burch is a serial entrepreneur who has made his name renowned across a myriad of sectors due to his creativity and vision which has been able to turn so many operations that he has been a part of into great successes. One of the latest measurements of this success has sprouted out of a business venture that he and hotelier James McBride worked together on. Their work transformed a beach hostel on a remote Indonesian island into a 5-star resort by the name of Nihiwatu, and the reviews reveal that it is nothing short of excellence. Check businessinsider.com for additional reading.
Leisure and Travel is one of the well-known publications which targets those who can afford to live in luxury and like to do it by travelling around the world. Each year they release a list of the top 100 hotels in the world, and the latest iteration of this poll has readers and editors weighing in to rank Nihiwatu as #1 even though it is its first time on the list. Rooms and facilities, location, service, food and drink, and overall value were all taken into consideration, and the results show that Chris Burch is no stranger to excellence as he and McBride seem to have spent their $30 million investment wisely. Check this interesting interview with Burch on mashable.com
Chris Burch is a visionary who says that he bought the island spot on Sumba for his children. Most of his visions are so lofty in their expectations that he is inevitably left wanting more due to being equipped with such high standards and instinct. However, even he says that the hotel Nihiwatu has turned into more than he imagined. He now spends part of his time at the Indonesian location when he is away from his work in Miami or the Hamptons. When there he stays at a private home which makes up just one of Nihiwatu’s 27 private villas which are additions that go a long way towards keeping everyone who visits in blissful detachment from the outside world.
For additional reading, have a peek on this.
The magnificent spot has inevitably become the largest employer on the island so that many natives are able to support their families through their work at the hotel. Also, Chris Burch enjoys immensely giving back to those around him, and he does that through tiding a portion of the hotel Nihiwatu’s profits to the Sumba Foundation which funds various benevolent projects that visitors and tourists can be proud of as well. Related article on huffingtonpost.com
Read related article on https://www.wsj.com/articles/tory-burch-co-founder-buys-miami-beach-tear-down-1489588776