Fortress Investment Group transformed global finance and asset management via expert financial analytics. The world-class, broad-based leader contains an integrative functionality, making it attractive for acquisition and assimilation. International conglomerate SoftBank snagged up the $40 billion dollar investor and financier in a $3.3 billion dollar deal in 2017. Founding principals Wes Edens, Peter Briger, and Randal Nardone retain certain levels of authority over day-to-day operations post-acquisition – as SoftBank holds equity and is bound as a board member.
SoftBank CEO Masayoshi Son described the portfolio company as a world-class investment platform and a potential boon to SoftBank’s 2.0 transformation strategy, a detailed program incorporating a diverse mix of Vision Fund capital injections. Through the purchase of Fortress Investment Group, the firm plans to accelerate growth. The team holds strong interests within infrastructure project planning, senior housing, and commercial real estate ventures. Sustainability has become paramount and every move going forward is going to more than likely reflect that objective, according to Masayoshi Son. More Business News at businesswire.com
Fortress Investment Group – the self-described assertive private equity and hedge fund manager – became the first non-banking financial entity to issue an initial public offering on the public markets. It also became the first equity firm to be delisted from the New York Stock Exchange as a result of intervention by SoftBank. Private equity is currently dominated by firms like Carlyle, Blackstone, and Kohlberg Kravis Roberts, all big brand names effectively competing for position.
With the acquisition of Fortress Investment Group, the telecommunications giant gains access to high profile real estate opportunities, expanding through partnerships with industry magnate firms like Maefield Development and L&L Holding Company. SoftBank wants to carve out future-proof retail spaces in New York’s Times Square, some of the world’s most famous and valuable properties. The cutting edge project roster is currently attracting the some of the largest tech companies. Read: https://www.bizjournals.com/newyork/press-release/detail/309/Fortress-Investment-Group