Peter Briger is the principal and co-chair of the Fortress Investment Group. He has served the company’s board since November 2006 and became the co-chairman in 2009. He has also served in the firm’s management committee since 2002, by managing the Credit and real estate departments at the firm.
Before joining the Fortress group in 2002, Peter Briger worked at Goldman Sachs & Co for 15 years. His exemplariness at his duties enabled him to become a partner in 1996. Currently, he is among the board members of Tipping point, an NGO serving low-income households in San Francisco. Additionally, he is calibre Schools’ board member, a network of charter schools dedicated to preparing students for success in their college education and beyond.
Peter Briger attained his bachelor’s degree at Princeton University. He later attained an MBA at the University of Pennsylvania. He created wealth using his sharp business acumen that enabled him to trade unwanted assets. Briger’s specialty is distressed debt, and he has excelled in this realm throughout his career. His expertise in distressed debt became visible when he founded Goldman’s unique situations foundation. The group is famous for its secretive and profitable trades. The company is credited with being the primary driver of Goldman’s revenue for the last ten years.
His tenure at Goldman was marked with the purchases and sales of car loans, troubled mortgages and running an alcoholic beverage company in Thailand, Japan, and South Korea respectively. Other business ventures he successfully ran include a purchasing commercial aircraft and a power plant in the UK. In these businesses, Mr.Briger used the strategy of purchasing the unwanted assets due to economic difficulties, political pressure and other reasons that were presented by opportunities. Peter Briger and his team would hold the assets as they waited for market stabilization and resold them at lucrative profits. Although the purchase of low sell high business strategy seems simple, it needs an advanced level of expertise to execute. Despite the execution difficulty, Mr. Briger and his team delivered excellent results all through. A Force of Innovation: Two Decades of Fortress Investment Group