Case | HBS Case Collection | January 2008 (Revised March 2009)

Fortress Investment Group

by Malcolm Baker, Carlos M. Galvez and James Quinn

Abstract

CEO Wesley Edens and the five Fortress principals are contemplating a move unprecedented in the industry: becoming the first hedge fund and private equity firm to complete an IPO on the New York Stock Exchange (NYSE). This case examines potential reasons for a leading alternative investment firm to go public, including the firm's own rationale relating to "people, permanence, currency, and capital," while also providing analyst expectations regarding target valuation and initial stock performance.

Keywords: Private Equity; Public Equity; Initial Public Offering; Investment Funds; Going Public; Valuation; Financial Services Industry;

Citation:

Baker, Malcolm, Carlos M. Galvez, and James Quinn. "Fortress Investment Group." Harvard Business School Case 208-080, January 2008. (Revised March 2009.)