Fortress Investment Group

About Fortress Investment Group

Fortress Investment Group is one of the world's leading alternative investment managers, with approximately $54 billion in assets under management and over 900 professionals operating across 13 offices worldwide. Founded in 1998 in New York City by Wesley Edens, Rob Kauffman, and Randal Nardone — all veterans of BlackRock and UBS — the firm began as a private equity shop before rapidly expanding into credit, real estate, and hedge fund strategies in the early 2000s with the addition of Goldman Sachs alumni Pete Briger and Michael Novogratz.

Today, Fortress manages capital on behalf of more than 2,000 institutional clients and private investors across a diversified platform spanning corporate credit, asset-based finance, real estate, private equity, insurance solutions, and multi-manager investing.

Company at a Glance

• Founded: 1998
• Co-CEOs: Drew McKnight and Jack Neumark
• Headquarters: New York and Dallas (co-HQ)
• AUM: ~$54 billion
• Employees: 900+ across 13 offices
• Investors: 2,000+ institutional clients and private investors
• Total Capital Deployed: $200 billion+ since founding

A History of Bold Moves

Fortress has consistently been ahead of the curve:

• 2007: Became the first major U.S. private equity firm to go public, listing on the New York Stock Exchange
• 2017: Acquired by SoftBank Group for $3.3 billion, taken private again
• 2024: Regained independence through a management-led buyout backed by Abu Dhabi's Mubadala Investment Company
• 2025: Founding investor in the Texas Stock Exchange (TXSE) alongside BlackRock, Citadel Securities, Charles Schwab, and JPMorgan Chase

Investment Platform

Fortress deploys capital through several core business lines, giving it one of the broadest alternative investment platforms in the industry:

• Corporate Credit: One of the pioneers of private credit — spanning senior loans, high-yield bonds, distressed debt, and bespoke capital solutions across liquid and private markets
• Asset-Based Finance: Specialized investments in infrastructure, transportation, intellectual property, structured credit, and legal assets
• Real Estate: Debt and equity investments across diversified property types in the U.S., Europe, and Japan
• Private Equity: Control-oriented investments in cash-flow-generating middle-market businesses ($200M–$2B enterprise value)
• Insurance Solutions: Dedicated insurance asset management platform
• Multi-Manager: Liquid, diversified, and market-neutral strategies

Fortress in Dallas

While Fortress was born in Manhattan, Dallas has become its co-headquarters — a distinction the firm made official in 2024 after more than two decades of growing its DFW presence. The firm occupies approximately 68,000 square feet across three floors at Weir's Plaza on Knox Street, with a second office on Travis Street. Fortress employs roughly 130 people in Dallas–Fort Worth, and that number continues to grow.

The Dallas elevation was driven by Co-CEO and Managing Partner Drew McKnight, who has been with Fortress since 2005. A former Goldman Sachs leveraged finance professional, McKnight relocated to Texas and helped establish Dallas as a true power center for the firm. He sits on the Federal Reserve Bank of Dallas's Financial Sector Advisory Council and notably serves on the Board of Advisors for SMU's Cox School of Business Alternative Asset Management Center.

McKnight has described Dallas as "a new capital of Capital" — a thesis Fortress is backing with real dollars, including a $228 million investment in Dallas-based First Foundation Bank and its role as a founding investor in the Texas Stock Exchange.

Recent Notable Deals

• Led a $500 million investment in Ripple alongside Citadel Securities, valuing the company at $40 billion
• Provided $500 million senior secured credit facility for Blue Raven Solutions
• Closed $112 million financing for residential development in Brea, California
• Invested in Dallas-based First Foundation Bank ($228 million)
• Announced £750 million forward flow agreement with UK fintech Tabeo

What This Means for SMU Students

Fortress represents a rare and exceptional opportunity for students at Southern Methodist University: a $54 billion global alternative investment platform co-headquartered in Dallas.

With Drew McKnight serving on the Cox School of Business Advisory Board, the connection between Fortress and SMU is direct and active. For students at Traders@SMU, this means:

• Local access to one of the world's most diversified alternative investment firms — no need to relocate to New York
• Exposure to every corner of alternatives — credit, PE, real estate, infrastructure, insurance, and multi-manager strategies
• 130+ professionals in the Dallas office across multiple investment verticals
• Direct SMU connection through Drew McKnight's advisory board role at Cox
• Career opportunities at a firm that prides itself on attracting and developing top talent

As Fortress continues to expand its Dallas footprint and invest in the Texas financial ecosystem, the firm represents one of the most relevant and accessible sponsors for the next generation of finance professionals at SMU.