Soft Bank Acquires Financial Services Company The Fortress Investment Group


Fortress Investment Group LLC is an industry leader in providing highly diversified global investment management services. The firm was founded in 1998 by experienced financial services professionals Wesley R. Edens, Co-CEO and Randal A. Nardone. Today, Fortress Investment Group has a staff of 953 asset management employees in its headquarters in New York as well as their affiliate offices around the world and manages over $43.6 billion in assets for more than 1,750 private investors and institutional clients worldwide.

Prior to founding Fortress Investment Group LLC Wesley Edens, Rob Kauffman, and Randal Nardone had worked in the financial services industry for many years. Edens had been a partner with the well-respected company BlackRock Financial Management, Inc. Kauffman, a businessman, had been one of UBS’ managing directors. Randal A. Nardone had also worked at UBS as a managing director for several years. When Fortress Investment Group expanded into debt securities, real estate related investments and hedge funds, the company hired former Goldman Sachs partners Peter Briger and Michael Novogratz to run those divisions.

The company’s cornerstone is consistent excellent investment performance and they provide a wide array of real estate, credit, permanent private investment and private equity strategies to do just that. Fortress Investment Group has an excellent track record for providing their investors with strong, long-term risk adjusted returns. Their core competencies include asset-based investing, operations management, capital markets, corporate mergers and acquisitions as well as their expertise in asset management. The company’s experience in these areas has enabled it to enjoy continued success, and lacrosse camp Fortress Investment Group.

When it was founded, the focus of the Fortress Investment Group was strictly on private equity. The company has since expanded its services and become a global investment management firm with highly diversified activities. Their strategy now includes handling control-oriented investments in a number of cash-flow generating assets as well as asset based business through sector specific funds and general buyouts. The company invests in distressed and undervalued assets, tangible and intangible assets, opportunistic lending and publicly traded companies with real estate, media, transportation and infrastructure assets.

When Millennium Development Group were contracted to build the 2010 Winter Olympics athletes’ village in Vancouver, British Columbia, Fortress Investment Group was chosen as the primary lender of the $875 million they needed to complete the project. Completed in November 2009, the athlete’s village became the property of Fortress Investment when the 2010 Winter Olympics ended, and https://www.thestreet.com/quote/FIG.html.

In December 2017, global technology company SoftBank Group Corporation acquired Fortress Investment Group LLC and all its outstanding shares for the all-cash price of $3.3 billion. Softbank had announced its intention to purchase the company in early 2017 and had been awaiting the necessary regulatory approval and approval from Fortress Investment Group’s shareholders. Fortress will continue to operate as an independent business. SoftBank has said it’s committed to allowing Fortress to maintain the business model, processes, leadership, personnel and culture that have led to its success. Fortress will continue to be lead by CEO Randy Nardone and principals Pete Briger and Wes Edens, and read full article.