Fortress Investment Group Acquired By Softbank For $3.3 Billion

One of the most successful longest-serving financial institutions in the world is Softbank. For the past four decades, it has been on a continuous path of growth which has seen it record unprecedented success. Softbank is not done yet with its expansion measures. Recently, they made news after making a huge move towards the expansion of the business operations further.

The acquired Fortress Investment Group, one of the largest investment management firms in the world. With this acquisition, and the Japanese financial company has laid the foundation for another phase of growth which will see it become the largest investment firm in the world. The acquisition of the Fortress Investment Group cost $3.3 billion. However, even with the new acquisition, Fortress Investment Group will continue running its daily operations as it used to. From the agreement between Softbank and the Fortress Group, Softbank will in no way be involved in the management of the assets currently at the Fortress.

Then no-interference agreement between Fortress Group and Softbank is good news to both organizations. Fortress has in the past proved that they thrive when given the space to determine their path of growth. The ability to run on itself is one of the factors that Softbank considered before purchasing it in the first place. Softbank will, therefore, allow Fortress Investment Group to remain autonomous and pursue its independent goals and interests. The deal between these two is expected to bring huge returns, a factor that influenced Softbank into purchasing it in the first place.

While Softbank was founded in the early 1980s in Japan, Fortress Investment Group is a new company established at the beginning of this century. Its headquarters are based in New York City. Over the past two decades, Fortress Group has become one of the largest asset managers in the world under the leadership of CEO Randy Nardone and co-chair Wes Edens. They formed this organization in 1998, and over the past two decades, it has accumulated assets what tens of billions. Fortress Group is currently managing assets on behalf of more than 1,700 private investors as well as commercial clients.

Read more: SoftBank to Buy Fortress Investment Group for $3.3 Billion