Peter Briger is a San Francisco, California-based businessman. He is a graduate of the Ivy League school Princeton University which is where he earned his B.A. He has also a graduate from the University of Pennsylvania’s prestigious Wharton School of Business where he obtained his M.B.A. From 1987 to 2002 he worked at Goldman Sachs. He was one of the founders of this financial firm’s Special Situations Group which became known for making very lucrative trades. For the next decade, this group was largely responsible for most of the profits Goldman Sachs brought in.
In 2002 he joined Fortress Investment Group. This company specializes in investing in alternative assets. From when it was founded in 1998 until the time Peter Briger arrived they mainly invested in just private equity. He diversified their investments by starting to invest in other assets like real estate and distressed debt. This led to a better-diversified company. His reputation is for making huge profits off investing in debt that everyone else is avoiding.
He says that since the financial crisis the best opportunities for him to buy distressed debt from are firms in the financial industry. Peter Briger has referred to what he does as “financial services garbage collection”. Since the financial crisis, the federal government has cracked down on the financial industry by introducing much bigger regulations. As a result, these companies have had to sell their distressed debt as it is too risky to meet these regulations and the banks have to reserve too much capital to account for it. He is happy to capitalize on this, buy this debt, and generate big returns for Fortress Investment Group.
Peter Briger spent the earlier part of his career in New York and the past several years in San Francisco. In both cities, he has engaged in philanthropy. He presently supports two Bay Area nonprofits which are Tipping Point and Caliber Schools. Tipping Point helps families in poverty by providing services to them. Caliber Schools is a Bay Area charter school system which is public, free, and non-selective in which students can attend its schools. GiftFrom Alumni Supports Princeton Entrepreneurship