Peter Briger Shares $1.39 billion Cash from Sale of Fortress

Peter Briger Co-Chief Executive Officer of Fortress Investment Group receives his share of $1.39 billion cash windfall from the sale of Fortress to technology conglomerate SoftBank Group Corp. Peter Briger has provided extremely strong leadership and guidance within the Fortress Credit Business that has created tremendous returns on investment for the organization and establishes an opportunity for the large lump sum cash out with the sale to SoftBank. Peter Briger was educated at Princeton University where he received his Bachelors of Arts Degree. After his undergrad at Princeton, he received his Masters of Business Administration from Wharton School of Business at the University of Pennsylvania. Peter Briger joined Goldman Sachs and began to expand his understanding and knowledge of alternative asset classes by serving on various global committees within the investment firm.

Peter Briger served as co-head of groups including the Asian Distressed-Debt Business, the Asian Real Estate Private Equity business, and the Special Operations Asian Fund LLC. He provided high-level leadership and stewardship over various committees within Goldman Sachs Peter Briger and developed a reputation as an intellectually astute evaluator of distressed, underperforming, and illiquid assets. The experience at Goldman Sachs established Co-CEO with Wes Edens and they continue to guide the company admirably by creating profitable investment opportunities for their over 1750 individual and Institutional clients from around the globe. By providing a high level of intellectual analysis and evaluation of distressed underperforming asset groups from around the globe, Peter Briger has been able to produce extremely high returns on investment. Fortress Investment Group currently has more than $30 billion in assets under management and continues to lead the industry as one of the largest alternative asset firms in the world.

In December 2017, Fortress Investment Group was acquired by SoftBank Group Corp for $3.3 billion. SoftBank group Corp is a global technology company that specializes in internet, telecommunications, robotics and various other innovative technologies that are driving the information revolution in the world. After the acquisition of Fortress Investment Group, SoftBank Group Corp became one of the leaders in the alternative asset category. The purchase of Fortress Investment Group was the first of many investments by Softbank Group Corp in the alternative asset investment industry. The purchase positions Softbank Group Corp. with the capital resources to create a organizational structure that will enable the company to continue to build its infrastructure and strategically compete with its many competitors. After the acquisition of Fortress Investment Group, Peter Briger continues to serve as Co-Chief Executive Officer along with Wes Edens. Fortress Investment Group will continue to operate as an independent organization within the Softbank Group Corp umbrella and by continuing to retain the executive and managerial staff. Fortress Investment Group will continue to build upon a legacy of profiting within the alternative asset category to produce extremely lucrative returns on investments for its clients. After the acquisition, Peter Briger received his share of the $1.39 billion dollars in cash that he will split between himself, Wes Edens and Randall Nardone.

The SoftBank Group Inc. now owns Fortress Investment Group.

Soft Bank’s ownership of the Fortress Investment Group

Soft Bank recently announced that the firm had completed the acquisition process for the Fortress Investment Group. The acquisition completed for roughly above three billion dollars. The transaction was done when the principles and shareholders gave their approval. Each of the shareholders will receive a little above 8 billion dollars cash for every share they own. The proceeds of the merger are to be distributed according to Fortress’ outlined payment procedure. Fortress will continue to operate as an independent business under the Soft Bank and still retain its headquarters in New York.

 The Fortress Investment Group

The Fortress Investment Group began operations in 1998 after it launched through the partnership of financial expert Wesley Edens, the businessman Rob Kauffman and lawyer turned financial expert Randal Nardone. With Randal as the interim then officially appointed Chief Executive Officer, Fortress expanded from a small private equity firm to dealing with debt securities, hedge funds and investments in the real estate sector. The companies under Fortress Group include the Ski Resort of Canada which was acquired by Fortress in 2006 and the Rail America Inc. that was purchased at the end of the same year. There is also the Coast Industries of Eastern Florida, the Penn National Gaming company whose acquisition was done in partnership with Center Bridge Partners, AMRESCO, Flager, Box Clever and Global Signal Inc. among many more.

The company was reported to be managing assets worth roughly 70.2 billion dollars by mid-2016. Most of Fortress’s portfolio companies like Brookdale Senior Living Inc. and Rail America were made public in the long run. In preparation for the 2010 winter Olympics, Fortress Investment Group loaned the MDG (Millennium Development Group) a significant portion of the 875 million dollars that was used to develop the athlete’s village. The village completed in 2009 with the help of further donations from the Vancouver City. When the Winter Olympics came to an end, Fortress Investment Group became the official owners of the village. The Soft Bank Group brought the acquisition deal to the table in 2014 and agreed to purchase Fortress for 3.3 billion dollars. The deal was not just tabled and dealt with instantly. The involved parties took their time with important considerations, and in this process,they spent two years mapping out the details of the acquisition until December 2017 when the deal was done.

Shervin Pishevar Talks Competing Zones

Throughout his career, the co-founder of Sherpa Capital and Virgin Hyperloop One, Shervin Pishevar, has made a career of handpicking bonafide upstarts, and many of his contemporaries might consider him to be clairvoyant in this respect. Shervin Pishevar has been an early investor on companies such as Airbnb, Dollar Shave Club, Rapportive, TaskRabbit, and Slack, as well as a litany of other growing corporations. No stranger to social media, Mr. Pishevar often utilizes the medium to forecast his predictions to a mass audience, and recently, after disappearing from the public eye since December of 2017, he returned to Twitter to dispatch 50 posts regarding globalism, the uncertainty surrounding America’s economic situation, entrepreneurship, and changes within the monetary system. Considering his track record, as well as his status as a member of the prestigious J. William Fulbright Foreign Scholarship Board, his opinions are highly respected.

One of the most important tweets that Shervin Pishevar produced was regarding the state of the stock market, which, to this point, has been very shaky, relinquishing much of the gains garnered this year. The University of California, Berkeley alum boldly predicted that the stock market is due to crash, in what he estimates will amount to a 6000 point deficit. This prediction only took one day to begin shaking up the industry, as the Dow Jones promptly fell  by 1000 points, losing 500 of those in under an hour, which made staunch supporters, such as the President of the United States, Donald Trump, seem very much out of the loop. Shervin Pishevar wasted no time calling out the “Cheerleader-in-Chief,” tweeting that “Presidents should not be cheering the stock market,” and immediately began hashtagging the phrase, “TrumpDump.”

Shervin Pishevar would also touch on the subject of global competition regarding the stock market, revealing his view that the United States was losing ground when compared to a number of other major players, particularly China. Describing the changes as a “tectonic shift,” Shervin Pishevar discussed Silicon Valley’s loss of its historical competitive edge, as many of the other zones around the world are now flourishing through their adoption of the American way.

https://www.forbes.com/profile/shervin-pishevar/

Southridge Capital: New Partnership with Elite Data Services Inc.

Southridge Capital, through its CEO Stephen Hicks, has announced its new partnership with Elite Data Services Inc., a Dallas-based tech company. The company’s CEO revealed that an institutional investor for Southridge Capital had offered an equity purchase agreement with Elite Data Services Inc., and Stephen Hicks added that the transaction between the two companies would be beneficial to either party. He also claimed that Southridge Capital would need a company that would help it to grow further, and Elite Data Services Inc. is the one that they have been waiting for a long time. Through the partnership between Southridge Capital and Elite Data Services Inc., many business opportunities would knock on their doors that could improve their services and business performance.

According to Ideamensch, Stephen Hicks has also stated his gratitude towards Elite Data Services Inc. for trusting in them. The Dallas-based tech company is known for their generosity, especially with business partners. Elite Data Services offered several products and services exclusively for the use of Southridge Capital. The tech company stated that it is being offered as a sign of gratitude because of how Southridge Capital decided to offer them several perks and agreements that would help with their planned expansion. Being a tech leader in Texas, Elite Data Services Inc. stated that they would start programming software and application that can be used by Southridge Capital to advertise their products and services. This new partnership is also expected to reach new heights, as the two companies keep on signing new agreements each day.

Established in 1996, Southridge Capital continues to become one of the most sought-after companies when it comes to matters concerning investment capital and other related issues. Stephen Hicks founded the company, and he served as the CEO up until the present day. The company is adept in managing a lot of assets and investments, and they have transformed a lot of portfolios into multi-million dollar ones, thanks to the dedicated of Stephen Hicks to place his company onto new heights. Southridge Capital has also revealed some of their plans for the future, creating a massive business empire that would run from all the corners of the world. Visit the official website at southridge.com.

Read More: https://www.prnewswire.com/news-releases/southridge-capital-enters-into-a-5-million-equity-purchase-agreement-with-elite-data-services-inc-300118746.html

How Michael Lacey and Jim Larkin Doggedly Chronicled the Crimes of Sheriff Joe Arpaio

In August, 2017 President Trump pardoned Sheriff Joe Arpaio, the former sheriff of Maricopa County, Arizona. In October of that year Judge Susan R. Bolton formally validated that pardon. Stemming from a 2007 racial profiling lawsuit for ignoring a federal judge’s order to end ethnic profiling of Latinos for which Arpaio was convicted.

Over the six terms of office that Arpaio served, Michael Lacey and Jim Larkin, former co-owners of Phoenix New Times, covered the sheriff persistently and frequently exposed scandals in which he was involved that included, Arpaio’s infamous tent city that exposed inmates to temperatures of over 135 degrees in the summer. At indoor facilities, prisoners were barbarically beaten and pregnant women were shackled to their beds while giving birth.

There were an unknown number of wrongful deaths and inmates hanging themselves in numbers far above other county jails. The sheriff misused his authority to investigate, slander and prosecute rivals and critics including Michael Lacey and Jim Larkin.

In October 2007, Arpaio had the two arrested under the cover of darkness after receiving an unconstitutional and overbroad subpoena and writing an article about it for the Phoenix New Times.

The arrests brought down a tsunami of outrage across the country and forced the county attorney to declare that the arrests were improper and the case was closed in less than 24 hours.

Larkin and Lacey sued and in 2013 the board of supervisors voted to pay them a $3.75 million settlement. With that money Lacey and Larkin have formed the Lacey and Larkin Frontera Fund.

The fund works to give to non-profits that support the rights of Latinos and Hispanics who have experienced prejudice at the hands of law enforcement and other public officials.

Also in 2013, the class action Melendres v. Arpaio alleging widespread racial profiling ordered by Arpaio and carried out by his agency, U.S. District Judge G. Murray Snow ruled that in fact the profiling had occurred and ordered a list of reforms.

Jim Larkin is a native of Arizona and dropped out of Arizona State University 1972 when he teamed up with Michael Lacey to publish Phoenix New Times in response to the ultra conservative slant of the local news media coverage of the student antiwar protests. Learn more about Jim Lacey and Michael Lacey: http://james-larkin.com/about/ and http://www.bizjournals.com/phoenix/potmsearch/detail/submission/6427427/Jim_Larkin

Michael Lacey grew up in Newark, New Jersey and moved out west to attend Arizona State University in the late 1960s. By 1970, Lacey dropped out and they published the inaugural issue of Phoenix New Times with Lacey as executive editor and Larkin as the head of advertising.

Ultimately, they owned a conglomerate of 17 like-minded papers all over the country, including the Village Voice in New York City.

At the end of 2012, Village Voice Media executives bought the papers after the chain had reached nearly 9 million readers a month and 56 million online and had earned a Pulitzer Price.

Read more: Jim Larkin | LinkedIn and Michael Lacey | Twitter