The King of Subprime Lending, Wes Edens

Wes Edens is a diversified individual who owns a sports team, has invested in the private equity industry, and is an American businessman. In addition, he co-owns the National Basketball Association’s franchise and is a founder member of the Fortress Investment Group. He earned his Business Administration and Finance degree after he graduated from the Oregon State University in 1984. In 1987, Wes Edens commenced his career at Lehman Brothers. He was a partner and served in the position of the Managing Director. He then moved to Blackrock Asset Investors where he worked with them until 1997. Alongside other principal partners, they founded Fortress Investment Group. The others include Michael Edward, Peter Bridger, Robert Kauffman, and Randal Nardone. It used its investments and was actively involved in the financial matters to build its businesses.

In fact, it traded buyouts publicly in 2007 hence the founding team supported its initial public offering. Its assets include two real estate vehicles, four hedge funds, and private equity funds that were fourteen in number.Wes Edens became a billionaire in December 2006 after Nomura Holdings acquired 15 percent of the company. They had paid 888 million dollars to the management of the company. In 2017, the league of legends, which is a sports team, was established. It is efficient because it competes through the North American League. Moreover, Wes Edens was actively involved when the company purchased American General Finance. The impact it had on spring leaf made its value to increase from 124 million dollars to 3.5 billion dollars.

This was a growth of 27 percent hence it was a great success in 2015.In fact, he was nicknamed by the Wall Street Journal the king of subprime lending. Fortress proceeded in 2010 and acquired 125 million dollars which were considered 80 percent of spring leaf. It enabled it to build the private equity of the firm. Later in 2014, in conjunction with Marc Lasry, they used 550 million dollars to buy it from Herb Kohl. They promised to enact a new field for BMO Harris Bradley Center then locate the team to Washington. Wes Edens is a happily married man who is blessed with four children. His youngest daughter was a representative of the NBA draft lottery that took place in 2014. She represented the Milwaukee Bucks which led to the media giving her much attention.