Tag Archives: private equity investor

The King of Subprime Lending, Wes Edens

Published / by TheHI

Wes Edens is a private equity investor and a successful businessman with investments in many industries such as healthcare, infrastructure, real estate, financial services, media, and transportation. He is one of the co-founders of Fortress Investment Group where he holds the position of private equity chief investments officer and the founder of New Fortress Energy. He also serves as a co-Chairman, co-CEO, Principal, and Head of Private Equity. He holds a Bachelor’s of science degree in Finance and Business Administration from the Oregon State University.

Wes Edens kicked off his career at California Savings and Loans before moving on to work at Merrill Lynch. He later moved to Lehman Brothers as the Managing Director and partner in the mortgage trading division. In 1993, Edens worked as a managing director and partner for BlackRock Financial Management where he came up with a private equity fund, BlackRock Asset Investors. He later joined his other four principal partners in 1998 to form Fortress Investment Group. When Fortress acquired Springfield financial services, the Wall Street Journal gave Wes Edens the title, “New King of Subprime Lending.” The name came as a result of the value of Springfield ballooning to $3.5 billion, making the Fortress investment of $124 million to gain by more than 27 times. The group also purchased Centex Home Equity Company now known as Nationstar Mortgage where Edens serves as chairman.

Wes Edens is a sports fan, and together with Marc Lasry, they purchased the Milwaukee Bucks for $550 million. They are building a new arena for the team in Wisconsin and lately it was valued at around double their investment. Eden’s investment firm in South Florida boasts of having the first privately funded passenger train in more than 100 years. The private intercity passenger service is set to solve the nation’s traffic congestion problems. Recently Eden entered the soccer business by partnering with Nassef Sawiris to purchase a majority stake in England’s top flight club, Aston Villa of Birmingham. The team competes in the Championship League which second to the Premier League in England. The investors are confident that the club will return to the Premier League where it belongs.

Visit his website: http://www.wesedens.com/