Two decades ago, Fortress Investment Group was founded to diversify the investment industry. The company had a tremendous growth rate that by the time it went public its assets totaled to $32.6 billion. The firm went public in 2007, and it hit the highest ranking of private equity firms going public on the New York stock exchange market. Fortress Investment Group is well known for producing excellent portfolios and the know-how in staging mergers and making resource acquisitions. The organization deals in real estate, private equity, and hedge funds. Visit https://www.bizjournals.com/newyork/cotm/detail/309/Fortress-Investment-Group
SoftBank Group founded by Masayoshi Son constitutes of SoftBank Group, SoftBank Vision Fund, Arm Holdings, Boston Dynamics and the latest acquisition Fortress Investment Group. The business mogul is leading a $100 billion to enable his company to be at the lead of technological evolutions. Masayoshi Son envisioned being listed among the world’s best asset financers is unfolding with the purchase Investment Company.
At a price of $3.3 billion, SoftBank became the proud owners of the renowned investment company in a bid to establish a global leading private equity firm. Fortress Investment Group manages assets totaling about $70 billion. The arrangement made SoftBank to be ranked among the leading asset finance companies worldwide. After this transaction, Softbank Group acquired control of Fortress’ stakes. Each Class A shareholder from Fortress was entitled to be compensated with $8.08 for each share and the profits from the transaction to be shared as per Fortress’ Definitive Proxy. With this, Fortress stopped trading on the New York stock exchange market.
Fortress under New Ownership
Fortress Group still gets to run as a sovereign venture with the head office situated in New York although it will be covered under Softbank’s umbrella. The new owner was insistent on retaining the leadership status quo of Fortress Investment Group and, thus, the heads maintained their leadership positions.
The deal could lead to SoftBank finance using cash instead of debt. SoftBank aims to multiply Fortress’ resources soon by using Masayoshi Son’s clientele with plans of selling Fortress’ general partner off to some people in Mr. Son’s network are underway.Read more on craft.co