Nationstar Mortgage, and the co-owner of the Milwaukee Bucks professional basketball team, Wes Edens has built an exemplary career in the business world.Wes Edens started out in the financial sphere in 1987, by working for Lehman Brothers. Edens was wise by working his way up to the position of director. Wes Edens decided to leave Lehman Brothers in 1993 in order to join another finance company with more recognition and reputation, called BlackRock Financial Management. Wes Edens became their partner and managing director at BlackRock Financial Management. However, Mr. Edens decided to leave BlackRock in 1997 and venture into the role of company co-founder. With the support of fellow co-founders, Peter Briger, Mike Novogratz, Robert Kauffman, and Randal Nardone, Wes Edens was able to build the company, Fortress Investment Group.
In addition to being a co-founder, Wes Edens is part of a seven-member board at Fortress Investment Group. The Wall Street Journal noted that Wes Edens method of investing is creative. Edens also bets contrarian and is innovative with financing. Edens’ has impressive talents when it comes to hatching new businesses from the investments and monies that he manages for Fortress Investment Group.Wes Edens also manages Fortress Investment Group’s private equity business. Wes Edens was the main driver behind the procurement of Springleaf Financial Services, a subprime lending company. Springleaf was once known as American General Finance, under American International Group’s (AIG) domain. With the acquisition of Springleaf Financial Services, Fortress Investment Group became the majority stakeholder for Springleaf. Wes Edens took over as the chairman of Springleaf Financial Services when Fortress procured their firm.
In 2015, Fortress Investment Group and Wes Edens made a debt-related purchase by buying Citigroup’s OneMain for a price tag of $4.3 billion dollars — it was an all-cash acquisition by Springleaf Financial Services. Fortress owned approximately 80 percent of Springleaf at the time of the Citigroup/OneMain deal in 2015. Fortress Investment Group is a publicly traded company (FIG); it manages assets in the interest of over 1,600 plus clients and investors, internationally.In addition to the CEO’s and co-founder position at Fortress Investment Group for Wes Edens, but he is also the current co-owner of the Milwaukee Bucks, a pro basketball franchise. Wes Edens and Marc Lasry, a fellow finance executive, built a business partnership together and made the decision to purchase the Bucks in 2014. Herb Kohl sold his basketball team to Edens and Lasry for $500 million. Both Edens and Lasry made a promise to keep the Bucks in Milwaukee.