Softbank Acquires Fortress Investment Group

Fortress Investment Group, an investment management firm, was founded in 1998 by Peter Briger, Randall Nardone, and Wes Edens, as a private equity firm. Established in New York City, Fortress broadened into hedge funds, debt securities, as well as diverse real estate interests. On February 9, 2007, the firm was launched on the NYSE making it the first equity firm of it’s kind publicly traded in the United States.

Surviving the economic downturn in 2008, Fortress Investment Group was named “Hedge Fund Manager of the Year” in 2014 by Institutional Investor. Managing over $40 billion in assets for over 1,750 clients worldwide, Fortress Investment Group has shown itself to be responsible in adapting to change to remain competitive.

In February 2017, Softbank Group announced an intention to purchase Fortress Investment Group. Many people questioned why the multinational holding group, whose primary focus is on tech and internet investments, was interested in an investment management firm. However, considering the histories of both companies, the deal does make sense financially. When founded in 1981, Softbank Group dealt exclusively in the wholesale of PC Software. Since then, they have acquired an interest in over 400 diverse services, and have not been quiet about their intention in becoming one of the largest and most influential investment firms worldwide. The acquisition of Fortress will be a big step in achieving that goal.

In July 2017, Fortress shareholders approved the $3.3 billion deal, and in December of that same year, the acquisition finalized. Softbank faced quite a bit of perusal due to national security concerns, and also had to agree to allow Fortress Investment Group to continue operations in the same capacity with all of its principals to get around regulatory complications.

Fortress, excited to no longer be publicly traded, is satisfied with the acquisition as it appears it will be a benefit for both firms.

Learn more about Fortress Investment Group:

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