Wes Edens is the owner of FlyQuest, one of the more successful esports franchises. He’s also a co-owner of the Milwaukee Bucks and has invested in numerous other sports teams and companies. Learn about his story and how he became such a success!
Wes Edens graduated from Oregon State University and earned his MBA at the prestigious Booth School of Business at the University of Chicago. He started as a relationship manager for a small bank after school, but soon joined Lehman Brothers. Wes Edens would work there until 1993 when he co-founded Fortress Investment Group with former colleague Randal Nardone.
Fortress Investment Group is a leading global investment management firm, specializing in alternative asset classes. Wes Edens would remain Chairman of the company until it went public in May 2014. He was also named the Chief Executive Officer in 2013 and is listed as such on their website to this day. Fortress manages USD 42 billion worth of assets around the world. One of Fortress’ funds, Private Equity, was a great deal more successful than anyone could have predicted when it started in 1998.
The real estate-focused fund has realized a 31% average annual internal rate of return since inception and made huge profits on iconic properties such as New York’s Madison Square Garden, the MGM Grand in Las Vegas, and London’s iconic Walkie Talkie building. The fund has also invested in companies such as Twitter, Four Seasons Hotels & Resorts, and Norwegian Cruise Lines.
With this success under his belt already, Wes Edens formed a new company called New Fortress Energy on April 16th of 2015. This company is based in Florida and is an energy management firm that specializes in liquefied natural gas (LNG). The company has already raised USD 180 million and began operations on May 3rd.