Fortress Investment Group aims for better prospects
Since its inception 20 years ago, Fortress Investment Group has been on a constant growth path. However, 2018 has been especially significant to the firm thanks to the monumental progress achieved thus far. The firm has achieved great strides as it expands to serve its clientele even better. Among other success stories, the highlight of 2018 for Fortress Investment Group was its acquisition by SoftBank Group Corporation. The deal thrust Fortress Investment Group into one of the world’s most notable financial conglomerates. This $3.3 billion purchase served to set the foundation for better prospects ahead for the company as it seeks to participate even more in the cutting edge and exciting development in private equity and the real estate industry.
Fortress Investment Group was founded in 1998 but since then, the company has ventured into uncharted waters, making use of unique marketing strategies to achieve its goal. Despite starting up as an assertive hedge fund, it quickly expanded to include global financing and investment in its portfolio. Its first decade in business was crowned by the historical move to become the first hedge fund of its kind to go public through an IPO on the popular New York Stock Exchange.
The purchase of Fortress Investment Group by Softbank was finalized in December 2017, leaving the company to strategize and attain greater heights in 2018. For instance, the firm oversaw $40 million in global assets that were independently managed by the New York-based principles Wes Edens and Randal Nardone, and San Francisco-based Peter Briger. These were integrated into the global strategies of Softbank.
Softbank has been known to champion the support and financing of the information revolution. This includes its ownership stake in Sprint, the US telecom big wig together with other major stakes in Uber and Alibaba.
Commenting on the acquisition, Masayoshi Son, the CEO and founder of SoftBank was upbeat about the new development. He was full of praise for Fortress noting that it has posted an excellent record over the years, and this speaks for itself. He hoped that this purchase will ultimately lead to better prospects for both firms.
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