Wes Edens
| Wesley R. Edens | |
|---|---|
| Born | October 30, 1961 |
| Residence | New York, New York |
| Nationality | American |
| Education | Oregon State University |
| Occupation | Private equity investor, Hedge fund manager |
| Known for |
Co-founder of Fortress Investment Group Co-owner of the Milwaukee Bucks |
| Spouse(s) | Lynn Edens |
| Children | 4 |
Wesley Robert Edens is an American businessman, private equity investor and sports team owner. Edens is a co-owner of the Milwaukee Bucks, a National Basketball Association (NBA) franchise based in Milwaukee, Wisconsin, along with Marc Lasry.[1]
Career
Edens received a B.S. in Finance from Oregon State University in 1984,[2] and afterwards was a partner and managing director at BlackRock's private equity division BlackRock Asset Investors, as well as a partner and managing director at Lehman Brothers.[3] Edens co-founded Fortress Investment Group in 1998. Nine years later, Fortress encompassed 4 hedge funds, 14 private equity funds and 2 real estate vehicles, and went public, leading Edens and his partners to become billionaires once they sold 15% of Fortress to Japan’s Nomura Holdings.[4] Edens became Co-Chairman of the Board of Directors at Fortress in 2009,[5] and helped the company which saw its stock fall after the subprime mortgage crisis resurge by offering subprime lending.[6]
Milwaukee Bucks
In 2014 Edens and Lasry purchased the Bucks from Herb Kohl for $550 million, promising to keep the team in Wisconsin and build a new arena to replace the BMO Harris Bradley Center.[1][7] Opponents of a proposed public-financing deal for this arena used Edens' ties through Fortress to Nationstar Mortgage to advocate for more public resources to rehabilitate foreclosed homes.[8]
Personal life
Edens and his wife Lynn have four children. Youngest daughter Mallory received significant, controversial media attention following her appearance as the Milwaukee Bucks' team representative at the 2014 NBA Draft lottery.[9][10] His hobbies include horse jumping and mountain climbing.[11]
References
- 1 2 "Milwaukee Bucks President and Owner Herb Kohl Introduces New Team Ownership and Announces $100 Million Gift for Arena". Milwaukee Bucks. April 16, 2014. Retrieved July 15, 2015.
- ↑
- ↑ #962 Wesley Edens
- ↑ A Quick Buck
- ↑ "About Fortress - Wesley R. Edens". Retrieved August 20, 2015.
- ↑ Meet the New King of Subprime Lending
- ↑ Walker, Don (April 17, 2014). "Kohl sells Bucks for $550 million; $200 million pledged for new arena". Milwaukee Journal Sentinel. Retrieved August 20, 2015.
- ↑ Wickman, Natalie (August 19, 2015). "Common Ground protests Nationstar, Bucks owner Wes Edens". The Milwaukee Business Journal. Retrieved August 20, 2015.
- ↑ Velazquez, Matt (May 21, 2014). "Mallory Edens becomes an Internet sensation at NBA draft lottery". Milwaukee Journal Sentinel. Retrieved August 20, 2015.
- ↑ Dicker, Don (May 20, 2015). "Mallory Edens, Milwaukee Bucks Co-Owner's Daughter, Shames Reporter Who Called Her 'Trophy Daughter'". The Huffington Post. Retrieved August 20, 2015.
- ↑ Peak Performer: Milwaukee Bucks Co-owner Wes Edens Reaches New Heights -- on Mountaintops