How Fortress Investment Group Merged With SoftBank Group

Fortress Investment Group opened its first office in 1998 through the collaboration of Wes Edens, Randal Nardone, and Rob Kauffman. The latter retired in 2012, and Peter Briger joined the other two principals to oversee the company’s operations. The principals brought together a high level of financial expertise after working for top-rated companies including UBS, BlackRock Financial Management, Lehman Brothers, and Goldman Sachs. The three talented executives decided to start alternative asset management. The company has diversified its operations to different portfolios over the years.

One of the methods that the company has applied in its expansion strategies is through mergers and acquisitions. In a recent development, SoftBank Group acquired the company, a process that saw Fortress enter into banking investment. It had made other collaborations before in energy, rail, and technology portfolios. The merger between Fortress Investment Group closed in December 2017. The better part of 2018 involved the integration of the company’s global assets amounting to approximately $40 billion into SoftBank’s global operational strategies.

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Wes Edens and Randal Nardone operated independently and Peter Briger from SanFranscisco. SoftBank, a multinational company, working from Tokyo, purchased the investment giant for$3.3 billion. Fortress made headline merging with SoftBank as it did ten years before by becoming the first private firm to go public. SoftBank, on the other hand, is an investment powerhouse managing companies that operate in artificial intelligence, and the Internet of Things. It also oversees the companies in advanced telecommunications, smart robotics, and clean-energy technology.

SoftBank Group has laid down plans that would facilitate its investment in the information revolution. The collaboration with Fortress added expertise in its investment team that would boost the execution of SoftBank Vision Fund. By purchasing Fortress Investment Group, Softbank made the initial step of investing in an asset management portfolio. Fortress currently operates through private equity, permanent capital vehicles, and credit portfolios.

Wes Edens and Randal Nardone oversee the Private Equity division from Western Europe, the Caribbean, and North America. Their role is to facilitate the cash flow process from respective companies, including New Fortress Energy and Florida East Coast Railway, among others. Peter Briger oversees the credit division supervising the operations of various funds. The capital vehicles revolve around real estate, housing, transportation, and local media ventures.

Source: https://en.wikipedia.org/wiki/Fortress_Investment_Group