Fortress Investment Group Reached An Agreement To Acquire Vannin

Fortress Investment Group is expecting to close an acquisition agreement to purchase Vannin Capital, a litigation funder. Headquartered in New York, the private equity firm will gain 100 percent ownership before the end of September 2019. Sources are unsure about the details of the transaction and how much Fortress is paying Bramden Investments. Vannin specializes in litigation finance in the UK and has offices in New York, Australia, London, Paris, and Germany.

Since 2017, the parent company of Fortress Investment Group, SoftBank continues to expand the FIG further into international markets. When the acquisition transaction closes, Fortress will reach another milestone in growth. The end of June 2019, its total assets under management was almost $41 billion for private investors and institutions. Peter Briger, Randal Nardone, and Wesley Edens are on the leadership team and oversee the credit and private equity divisions.

Briger runs the credit investment division and manages income, real assets, distressed and lending assets in San Francisco. Nardone and Edens run the private equity division at the headquarters office in New York. Peter holds a bachelor’s degree from Princeton University and an MBA from the Wharton School of Business. He came aboard the leadership team in 2002 and manages real estate and credit assets.

Nardone is one of the co-founders of Fortress Investment Group and been with the company since 1998. He is a principle and serves as Co-CEO and on the Board of Directors. Prior to finding Fortress, he was managing director of UBS and worked as the principle of BlackRock Financial Management. Randal holds a BS in Biology and English from the University of Connecticut, and a law degree from Boston University. He dedicated his career for several years as a partner and served on the executive committee at Thacher Proffitt & Wood Law Firm.

Edens is the Co-founder of Fortress Investment Group and serves as Co-CEO, since 1998. He and Randal have prior experience working for BlackRock as a partner. Wesley oversees the private equity division with Nardone and concentrates on generating cash flow from investments. The Fortress Investment’s leadership team will add diversity to its portfolio with litigation finance after the Vannin acquisition closes.

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