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Peter Briger, Expert in Disfavored Assets and Distressed Debt

Peter Briger carved out a niche for himself first by buying disfavored assets at Goldman Sachs and then by purchasing distressed debts at the Fortress Investment Group. Peter worked at Goldman Sachs for 15 years during which period of time he became a partner in 1996 and co-founded the Special Situations Group in 1997. The Special Situations Group’s primary goal was to make profits by purchasing disfavored assets at greatly reduced prices and holding them until the relevant markets stabilizes, at which time such assets would be sold netting huge profits. The types of disfavored assets bought and sold by the Special Situations Group varied greatly, for example, car loans, travel mortgages, a commercial aircraft, a British power plant, an alcoholic beverage company, among other disfavored assets. The Special Situations Group proved to be one of Goldman Sachs’ most profitable revenue generator ever.

In 2002, Peter Briger parted ways with Goldman Sachs and joined the Fortress Investment Group, where he was given charge of its credit and real estate business. At the Fortress Investment Group, Peter bought up distressed debts, such as bank and government non-performing and risky illiquid assets, at rock-bottom prices when the opportunity presented itself in the wake of the 2008 financial crisis. In 2015, Peter continued to buy up risky assets from banks when new regulatory and political changes mandated forced sales of their risky assets.

Peter Briger is one of three principals at the Fortress Investment Group as well as a co-chairman of the company’s board of directors. He is also a member of the Management Committee at the Fortress Investment Group. Peter Briger holds a B.A. degree from Princeton and an M.B.A. degree from the Wharton School of Business. In February 2007, Peter Briger made Forbes billionaire list when the Fortress Investment Group issued an Initial Public Offering. However, the Fortress Investment Group’s stock price has since been devalued by 74% and his 44 million shares no longer confer upon him billionaire status. Peter Briger Jr: Fortress Investment Group’s King of Debt

Learn more about Peter Briger : https://www.bloomberg.com/research/stocks/private/person.asp?personId=1155225&privcapId=666715