2018 proved to be one of the most consequential years for the Fortress Investment Group. The Group was transitioning from a publicly listed company back to private leadership. Over the years, they have grown to become one of the most prominent asset management organizations. Founded in 1998 by three partners, the Group would grow from an initial 400 million dollars to what it is today.
The purchase of the Group by Softbank began in 2017 when they began looking for an investment vehicle to help them grow their presence in the United States. The Tokyo based financial conglomerate has been expanding its presence rapidly across the globe. However, they have mainly focused on tech investments for the last decade or so. They would soon realize that there existed a lot of new and exciting opportunities, especially in the United States other than technology, and since they already had tech-based investments, it was necessary to diversify. The Fortress Investment Group was a perfect fit given there twenty-year history and quite a diverse portfolio. The Group’s principals were also highly qualified and experienced to lead the organization in whatever direction they would agree on. This meant that SoftBank could acquire the Fortress Investment Group, inject capital, and let the Group continue operating as an almost independent entity.
This was a win-win proposition for all those involved in the deal, and as such when it was presented to the shareholders, it was quickly endorsed. Once the acquisition was completed, the Fortress Investment Group stopped trading on the New York Stock Exchange. They would soon after embark on investing in High profile real estate. Their first investment was TSX Broadway. This iconic development in New York’s Times Square soon captured the interest of other investors, i.e., L&L Holding Company, and Maefield Development. The partnership meant that they could now create one of the most iconic brands in the city, and it is easy to see why companies such as Facebook, Amazon, Samsung, and YouTube are interested.
The partnership between Fortress and SoftBank promises to bring in more investments into the country and at the same time, create more opportunities for both.
For more details about Fortress Investment Group, just click https://www.fortress.com/businesses/credit