About a year ago, Fortress Investment Group was acquired by SoftBank for US$3.3 billion. If you are wondering who Fortress are, they are the largest asset alternative managers in the world with $70 billion assets in their hands. The Japanese company looked to advance its mission to become the largest investment firm in the world by acquiring the firm.
The acquisition took many by surprise as SoftBank has always been interested in acquiring tech companies. This is definitely going to change the development direction of the company with Masayoshi Son at the helm of its leadership. This is also a big move for Fortress Investment Group. According to Wes Edens, the move to privatize its operations is so exciting and it will definitely improve its financial strategies.
Fortress Investment Group manages over $70 billion worth of assets for more than 1500 investors across the world. The firm has been consistent in its growth with Wes Edens and Randal Nardone as founding principals. It has continued with its operations as normal since its acquisition and in fact, it recently made an acquisition, the first time after it was acquired.
As much as SoftBank may sound as a bank, it is now going to be the largest alternative asset manager in the world. It has mobilized investors from all over the world to come and help it find as well as structure deals. Additionally, it is striving to build its own investing business with an asset-management back office. According to reliable sources, SoftBank has revealed that it will double Fortress Investment Group’s assets in the near future. It will partly do that through channeling its funds to its network of sovereign funds as well as global billionaires. Read more on wikipedia.org
Fortress Investment Group went public in 2007 making it the first United States hedge fund manager to trade its shares publicly. The company valuation at the time stood at $7 billion with shares costing $35 each. It has since then doubled its offering price as well as the value of its shares. It is currently one of the many alternative asset managers traded publicly in the United States.