SoftBank Group purchases Fortress Investment Group

Fortress Investment Group is a company that was founded in 1998, and since then it has been headlining the financial world. For over two decades now the company has been leading the investment world and making millions. The year 2018 is one now that has seen Fortress Investment Group experiencing a lot of expansion and transition. This is because of its purchase by SoftBank Group Corporation that was set at 3.3 billion dollars. This integration is going to bring a lot of new opportunities for both companies and also allow them to take the financial world by storm. The two hope to come up with new developments in private equity funds and real estate that utilize the advancement in technology.

When Fortress first came into the market, it was a hedge fund that later grew to become an investor and global financier. Fortress Investment Group was able to go public in 2007 with an IPO that was put on the New York Stock Exchange. The closing date for the purchase by SoftBank occurred in 2107 in December. The past year of 2018 has been for integration of the Fortress Group Investments operations into that of SoftBank. These operations are being managed by Peter Briger, Randal Nordine and Wes Edens. Fortress has a record of 40 billion dollars in global assets that need to be integrated into the SoftBank operations.

The purchase of Fortress Investment Group is going to bring a lot of evolution to SoftBank whose strategy is to finance and support revolution and technology. Softbank’s founder spoke on the purchase stating that Fortress will help them expand their capabilities and assist them in establishing SoftBank Vision Fund platform. Fortress already has an excellent record and great leadership that SoftBank is happy to acquire and benefit from. SoftBank has always had a vision of incorporating asset management into their holdings, and with Fortress they can do this. With the purchase Fortress as part of the agreement can maintain their control of day-to-day operations. The main challenge will be an adaptation, but both companies are striving to continue building the integration and looking forward to more success.

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