SoftBank Acquires Fortress Investment Group

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

 About SoftBank

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

 

Peter Briger And Two Other Princeton Alumni Establish The Alumni Entrepreneurs Fund

Peter Briger joined forces with two other Princeton alumni to create a pilot funding program called the Alumni Entrepreneurs Fund at Princeton. Peter Briger and Gordon Ritter both graduated from Princeton in 1986, while it is not known what year the third anonymous founder of the pilot funding program graduated in. The purpose for the creation of called the Alumni Entrepreneurs Fund is to provide financial aid to recent Princeton alumni in their efforts to become entrepreneurs.

The Alumni Entrepreneurs Fund will assist recent Princeton alumni entrepreneurs to transform their creative abstract ideas into reality by providing them with as much as $100,000 in matching seed fund. For a startup team to be eligible for the fund, at least one member of the team must have relatively recently graduated from Princeton (within the last five years). In order to determine which teams are among the most qualified to receive assistance from this fund, a six-member panel has been established. Peter Briger is a member of six-alumni-entrepreneurs panel that not only reviews each team’s proposal to determine which teams meet the requirements to receive aid from the Alumni Entrepreneurs Fund but also initiates the mentoring process between the young fledging entrepreneurs and successful Princeton alumni entrepreneurs in similar business areas.

Peter Briger is a principle and a co-chairman of the board of directors with the Fortress Investment Group, who heads the alternate asset manager’s real estate business and debt securities business. Peter is also a member of Fortress’s Management Committee. Prior to joining the Fortress Investment Group, Peter worked at Goldman Sachs for 15 years and became a partner there in 1996. At Goldman Sachs, he co-founded Special Situations Group in 1997, a group that became a principal revenue driver for Goldman Sachs. Peter Briger is a holder of a B.A. degree from Princeton and an M.B.A. degree from the Wharton School of Business. He also serves on the board of a non-profit organization that serves low-income families in San Francisco, the Tipping Point.

To Learn More Click The Link : www.crunchbase.com/person/peter-briger