Wes Edens has experienced a meteoric rise in the world of investment banking and he will be drawing on these experiences to push the NBA’s Milwaukee Bucks (and the league’s nascent NBA 2K league) to the next level.Wes Edens has enjoyed a prosperous career ever since his humble beginnings with the famed Lehman Brothers firm. He graduated from Oregon State University with a BS in Business and Finance Administration in 1984 and became a member of the Lehman Brothers firm three years later.He would become a managing director and partner in short order. It did not take long for him to experience a similar level of success at his next stop: BlackRock Asset Investors.This is where he would remain from 1993 to 1997.Once he had learned everything he needed to know at these two stops, he made his way to Fortress Investment Group.
As one of the five founding investors, Wes Edens positioned the company for the success that they would soon enjoy.Showing an immediate knack for making the right investment decisions, Wes Edens made contrarian bets that paid almost immediate dividends. According to BizJournals, Edens’ take home pay rose to a whopping $54 million as a result of these decisions. He helped to build the company’s portfolio and this led to a handsome windfall once public trading began.After awhile, Edens began to look for the next challenge and when the NBA’s Milwaukee Bucks were placed up for sale by former owner Herb Kohl, he struck while the iron was hot. While the Bucks were purchased by Wes Edens and partner Marc Lasry for $550 million, the franchise’s valuation increased almost immediately.
The Bucks are now valued at over $1 billion, thanks to the efforts of Edens and Lasry. Edens is also making a strong foray into the world of e-sports. The NBA has elected to create an NBA 2K league for professional console gaming. This league is designed to enhance the interest of younger viewers, many of whom utilize console gaming on a regular basis.Edens has a long and storied track record of making bets like these and it seems as if it will only be a matter of time before the NBA’s 2K league experiences the same boost in popularity that his other ventures have been able to enjoy. With an additional investment in a League of Legends team, he is certainly covering all of his e-sports bases.
When the news broke about the SoftBank acquisition of Fortress Investment Group, Randal Nardone’s name was one of the first that was discussed. While he has served an important leadership role for the company, some believed that he would be pushed aside in favor of a SoftBank executive. What these speculators could not know was that SoftBank purchased the company because they were fond of their leadership tactics and that the Japanese conglomerate does not wish to make massive changes at this time. They are merely looking to put their considerable might behind the company and push them forward.Randal Nardone has already stated that he will be keeping his position at the company in the future. Fortress is not going to lose its status as an independent company as a result of the merger.
SoftBank wishes to maintain the same structure that allowed Fortress Investment Group to become one of the biggest names in their financial sector.Randal Nardone is especially gifted when it comes to leading businesses forward and that is why he serves as a director to a wide range of other companies. When Randal Nardone is not working with Fortress Investment Group, he is serving as a director for Springleaf Finance Inc., Springleaf Finance Corporation, Eurocastle Investment Limited, Alea Group Holdings Limited and Brookdale Senior Living Inc.Before working with Fortress Investment Group, Randal Nardone received his education at the University of Connecticut and the Boston University School of Law.
After receiving a BS and a JD from these respective schools, he worked with the Thacher, Profitt and Wood law firm. He became a partner at this firm and was also a member of its executive committee.This would set the tone for the years to come. BlackRock Financial Management brought him aboard as a principal and he would remain in this role until joining UBS. After working a managing director at UBS, he was given the opportunity to join the group of principals that was responsible for the creation of the Fortress Investment Group.With his level of experience in the private equity finance sector and credit management, he is poised to lead Fortress Investment Group into the future. SoftBank will be allowing him to remain in his usual role and by all accounts, the current management structure is going to be remaining intact. This will keep the company from experiencing any unwanted hiccups during the transitional phase.