If you stay on tabs on what is taking place in the world of finance, then the name Peter Briger definitely rings a bell. Peter Briger commonly referred by his close associates as Pete, is a household name in the sector thanks to his unique area of expertise. If you still have no idea whom we are talking about, Peter Briger is one of Fortress investment top dogs or rather, the current co-chairman and principal of the asset management firm.
Peter Briger’s role at Fortress Investment
Based in San Francisco, Peter Briger’s top-notch skills and input have contributed to the monumental success of Fortress investment group. He joined the firm in 2002 and ever since then, he has created an incredible track record of investing in distressed assets and bad debts. In other words, Peter Briger is daring enough to venture into areas which most investors tend to shy away from which is why this is his primary role in the company. In a layman’s language, what Peter Briger does is procure someone else’s trash, turn it into gold and then later sells it at profitable prices or adds it to one of Fortress’s many assets. He has done this with a long string of banks and non-performing assets in other industries which are on the verge of collapse and then turns them into fortunes.
His proficiency can be attributed to his academic accreditations and previous experiences. For instance, he is a graduate of the Princeton University and holds a BA from the same facility and is also an MBA holder from the esteemed University of Pennsylvania Wharton school of business. Also prior to Fortress, Peter Briger worked as an executive at Goldman Sachs for more than a decade a factor that plays a significant role in his successful career because here is where he mastered the art of investing in distressed assets.
Thanks to its five principals led by Wes Edens and Peter Briger, Fortress investments can be termed as a business for all seasons because it performs incredibly well in all stages of the dynamic economic cycle. For instance, when business is low, Mr. Briger takes advantage by investing in bad debts and when it’s high they equally generate revenue by selling the assets procured early and at the same time focus on other areas of operations. It goes without saying that all this success has helped Peter Briger amass massive wealth and with a net worth of $2.3 billion, Mr. Briger ranks position 407 on Forbes list of world self-made billionaires.
A man with a big heart
Nevertheless, underneath all the wealth and success, Peter Briger still understands the essence of education and its impact on the community. He also wants to create a self-sustainable future for the younger generations. That is why together with two other Princeton alumni’s they joined the Alumni entrepreneurs fund through which he helps shape the future of budding startups by funding their ideas. That positively impacts their lives as they can now take the path of self-reliance and help others who need help on the way too. Besides that, he is an executive of the Silicon Valley leadership council and also a board member of the council of foreign relations. All these are non-profit foundations set up with the aim of funding various charity courses. He is indeed a force to reckon and a source of inspiration to many.