Details On The Acquisition Of Fortress Investment Group
The investment management firm was acquired by a Japanese company, Softbank, in a deal that cost $3.3 billion in cash. The top management of Fortress Investment Group met and agreed on the terms of the merger. Peter Briger, Wes Edens, and Randy Nardone are the principals of the company. One of the agreements of the acquisition was that the three executives were to continue leading the firm.
The management of the organization has proven to be professional and capable of developing strategies that can transform it. Fortress was to continue operating as an independent enterprise and its headquarters will still be New York. Some of the factors that have facilitated the growth of the investment management fund is a good reputation and a culture of teamwork among the key Fortress Investment Group stakeholders.
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According to the Chairman of SoftBank, Masayoshi Son, he was optimistic that the merger would have a positive effect on the returns. The executive disclosed that SoftBank was focused on expanding its portfolios using innovative business ideas in various parts of the world. He has provided strong leadership over the years and that has played a key role in growing the business. Nizar Al-Bassam and Dalinc Ariburnu will be acting as the main advisors of SoftBank about the state of Fortress. SoftBank has invested in technology and has inventions in areas such as robotics and energy.
Fortress Investment Group has employed more than one thousand workers since its inception in 1998 and the value of its assets was estimated at $70.1 billion in 2016. The number of clients who are both private and institutional has increased to more than 1,750. The investment firm has invested in areas such as credit and real estate and is currently listed in the New York Stock Exchange.
One of the founders of Fortress Investment Group, Kauffman decided to resign from his position to pursue his dream career, car racing and has succeeded. He started RK motors Charlotte and has also acquired some other firms in the sector. During his racing career, he has participated in many races where he competed with some of the best racers in the country.
Visit fortress.com for more details about Fortress Investment Group.