A graduate of Princeton University and the University of Pennsylvania, Wharton School of Business, Peter Briger has been working in the financial industry since 1987. He spent the first half of his professional career at Goldman Sachs and the latter half at Fortress Investment Group. Since 2002, he has been a principal at Fortress and is also now the co-chairman of the board.
He heads the private credit group at Fortress as well as its real estate group. Working out of his office in San Francisco, Peter Briger investment specialty is scooping up distressed debt that other investors are looking to sell. He has been successful at this throughout his career but especially so in the wake of the Great Recession.
The 2009 recession was largely caused by the banking industry overextending itself and making terrible financial decisions. Due to this, the U.S. House and Senate acted by passing the Dodd-Frank regulatory reform legislation. This legislation was passed to prevent banks from investing too much into risky assets and having it blow up the global economy again.
Peter Briger says that due to this legislation his business has largely become a “financial services garbage collection” task. He buys the distressed debt banks have to sell in order to comply with this legislation and its requirement to have large capital reserves to ensure against the risky assets on their books, known as underperforming or risky illiquid assets.
He buys this debt at a huge discount and holds onto it until it has greatly increased in value. He then sells it off to other investors and has a huge payday. This type of investing requires someone with a keen understanding on what they’re doing like Peter Briger otherwise the likely result is it blowing up in the investor’s face. SoftBank’s Big Fortress Takeover Is A Bet On Infrastructure, Senior Housing And Mortgages
He is engaged in the broader community in several ways. Peter Briger serves as an investor and mentor for the Princeton Entrepreneurship Council where he helps budding entrepreneurs develop new businesses. He is also on the board of advisors for CNAS (Center For New American Security) and has a seat on the board of the San Francisco nonprofits Tipping Point and Caliber Schools.
Visit his LinkedIn : https://www.linkedin.com/in/peterbriger