Peter Briger has become one of the most influential business leaders in America. He is considered so by Forbes Magazine as they listed him on their top 400 most influential leaders in America. This was no fluke as his success has been documented over the years in the various positions he has held in the corporate world. This, however, is not the only criteria that makes him a great business leader as his other ventures show that he is versatile and able to take on causes that affect humanity and then the business world at different levels.His tenacity as a business leader showed itself immediately after graduating as part of the class of 86 from Princeton University.
Even getting into Princeton is considered an achievement on its own and as such Peter Briger was already on the right path towards achieving this title. His Bachelor of Arts degree would give him a stepping stone into Goldman Sachs and from that point on it was only up. The bank would grant him a lot of growth opportunities given his tenacity and curiosity to learn. He became a partner at the bank in 1996.He was in the meantime, considering advancing his education and to fulfill this he applied for an MBA at the prestigious Wharton School of Business. He would later graduate and give the number of committees he joined when he was at Goldman Sachs, Peter Briger was able to apply quite a lot of what he learned in class. They would also offer him an opportunity to learn more about the Asian market as it was experiencing a lot of growth at the time.
Goldman Sachs had a keen interest in the same and would create some market-specific funds made for this market, and Peter Briger was at times in charge of the same.As all this was taking place in his life, the Fortress Investment Group were coming to life. The group had managed to grow into a three billion asset management company by 2002, and it’s at this point that they realized the need for a credit division. Peter Briger was the perfect candidate for the position and was soon brought on board. He was responsible for establishing the same and has helped it grow, and today the division has made deals worth more than 100 billion dollars. He is now a partner and Co-CEO at Fortress. Learn More.
SoftBank, a tech giant based out of Japan, recently acquired Fortress Investment Group for an estimated $3.3 billion. On December 27, 2017, the deal was officially completed after it had been in process for quite a long time before that. While SoftBank may own the company, Fortress Investment Group will still remain an independent business and keep its New York headquarters.
The reasoning behind SoftBank acquiring the Fortress Investment Group is their desire to move into private equity firm and away from debt financing. With Fortress’ extensive knowledge and experience in the area, they will be a valuable tool to help them complete the process. Prior to the purchase of Fortress Investment Group SoftBank had primarily been in the business of purchasing various tech startups.
Both companies involved have interesting backstories and long histories of success. While SoftBank originally sold PC software wholesale their business changed when they became they became a major investor in Yahoo!. They continued to evolve and hold shares in hundreds of internet-based companies. With their acquisition of Fortress, it is clear that they are changing their business strategy and moving in a new direction again. Fortress Investment Group has more than 2 decades of financial industry experience after being founded in 1998 by Wes Edens and Randy Nardone. They currently operate on behalf of at least 1,750 clients by managing around $40 billion in assets.
There are many different reasons why SoftBank is allowing Fortress to operate so independently despite the large acquisition price tag, many of these have to do with the laws involving international deals. In order for the Committee on Foreign Investments to allow the deal to go through SoftBank had to promise not to have much interference with how Fortress managed their assets in the United States. SoftBank agreed to these terms and also paid a premium to their shareholders of $8.08 per share. The acquisition of Fortress was not the only transaction that SoftBank has made recently. They also transferred their shares of UK’s Arm Holdings to their investment fund. In addition their acquisition of Boston Dynamics had to be completed before the Fortress transaction was allowed.
GreenSky Credit has been one of the most instrumental organizations that are trying to bring revolution to the finance sector by embracing technology. With the help of the company’s CEO, Mr. Zalik David, Greensky has been able to establish strong relationships with the financial institutions that lend money to the customers in need hence building a mutual relationship. The deal between these institutions of financial lending and GreenSky Credit is that they should be able to harness customers to borrow money from them. Then, GreenSky comes in to provide the funds to the customers on behalf of the credit firms, but of course at a fee that is charged in the form of commission on the outstanding loan balance of the borrowers.
To smoothen the process of borrowing for the customers and their lenders, GreenSky Credit has designed an online portal which the borrowers can log in and communicate with their creditors. On the same portal, the loan application process is initiated by the borrower by filling in their details and submitting them for approval. After the approval by the financial institutions, GreenSky is granted the green light to credit the clients’ bank accounts with the requested funds. The whole process takes less than 48 hours. The beauty of this platform is that the loan application process has become a walk in the park for the borrowers. Instead of the bulky forms that the customers filled in the past, they are only required to sit with their phones in their houses and complete their loan application. The long time of the approval process has also been alleviated by this platform.
All this has been the initiative of David Zalik, who has been on the front-line to ensure that credit customers are no longer exploited or mishandled by the creditors who had become rogue in their service delivery. By the establishment of GreenSky Credit, a lot of challenges that were facing both the borrowers and the lenders have been addressed, and most of them solved. For instance, many are times when the small creditors could not afford to give credit to customers who required huge amounts of credit. As a result of the emergence of GreenSky, these firms can access funds to give to their customers in need, at a small fee.
When dealing with the stock market, it is relatively easy to be lulled into a false sense of security. If invested in a particular company, you might be inclined to only look at the bottom line results. You would not be alone in doing this, for many people, this is common practice. However Sahm Adrangi of Kerrisdale Capital is not many people, and he has recently taken QuinStreet.com, a data mining middleman for advertising sites, to town.
Sahm Adrangi is trying to point out to potential and current investors that this company’s current success is illegitimate. Sahm Adrangi points out how QuinStreet’s main customer has been a fake website for the past couple months. This website essentially scams people into clicking ads that promise to pay them, a desperate attempt to increase traffic.
Sahm Adrangi does not stop there either. He notes how that the problem with QuinStreet, and has been for years, is that their technology and entire business model is clunky. This has caused them to become ever more irrelevant throughout the years in Sahm Adrangi’s opinion. He backs this claim by citing the fact that much of QuinStreet’s eight-year stock history has been plagued by low exchange rates.
In an economy where things are constantly changing, it seems that QuinStreet is having trouble keeping up. This is not surprising either, taking into account the nature of technology. If a company like QuinStreet is going to survive, staying up to date with your competition is essential for success and continued growth. Sahm Adrangi seems to be giving out a warning call with this article. He is letting investors know that a spike in revenue does not necessarily mean a company is moving back towards good standing. In this case, the company in question is using deceptive practices in order to stay financially relevant. What investors should stay focused on is the fact that the business model is still dated, making further investments unwise.