Fortress Investment Group: WSJ Owner of SoftBank Acquires Fortress Investment Group

Masayoshi Son, the founder and owner of SoftBank completed a purchase agreement to gain Fortress Investment Group in February 2017. According to Wall Street Journal, the alternative asset management firm sold the limited liability company for over $3 billion. SoftBank is a leading Japanese investment business with the mission of becoming the largest international company. Soon after the acquisition, Fortress’s stock prices increased by 29 percent. Stockholders who invested into the Fortress Class A Fund received $8.08 per share after the transaction closed, according to WSJ. Visit https://www.fortress.com/businesses/credit

Fortress Investment Group is continuing operations under the leadership of Randy Nardone, Pete Briger, and Wes Edens in New York City. It is running independently within SoftBank organization with Nardone and Edens serving as Co-CEO. The goal of SoftBank is to double Fortress’s assets in the next three years. They are marketing its assets to the sovereign funds network and international net worth investors. Masayoshi Son told WSJ he plans to sell a part of the unit operation comprising the general partnership.

Son said his goal is to place the company and its investors at the head of emerging technologies including AI (artificial intelligence) and the Internet of Things. Fortress is on the New York Stock Exchange and manages approximately $70 billion in assets, real estate, private equity, and credit. Son said the acquisition alone with the substantial investment fund will hopefully speed up transforming his company into one of the largest investment firms worldwide.

Nardone and Edens co-found Fortress Investment Group in 1998 providing services to high net-worth individuals in the United States and global countries. Fortress is the first hedge fund managing company to sell shares to the public in America. The management firm offers investment solutions for buyouts, corporation restructuring, and turnarounds in the finance, real estate, energy, transportation, telecommunications, and healthcare industries. Fortress’s management team invests in undervalued and financially troubled assets, and capital, real estate, and intellectual property assets. The company also has interests in medical facilities, senior living, power generation equipment, and gaming investing transactions in North America, Europe and the Caribbean.

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