Last year, the acquisition of Fortress Investment Group was announced by SoftBank for $ 3.3 Billion. The deal was approved by Fortress shareholders in July 2017 and was disclosed in Dec 2017. The acquisition between Fortress and SoftBank brought many surprises to the people.
The Co-Founder and CEO of Fortress Investment Group, Randal Nardone and Wes Edens established the company in 1998 in New York which serves as a global investment manager for more than 1,750 private investors and clients. The group has been built around hedge funds, real estate, and private equity investments.
SoftBank started out as a PC software wholesaler by Masayoshi in 1981 in Tokyo which provides tech-solutions, e-commerce, and internet related services to more than 400 companies of the world.
Since Fortress and SoftBank equally have a great history about rebranding themselves over the years, the acquisition of Fortress Group clearly illustrates that SoftBank wants to be the largest investment companies in the world while Fortress Group believes that Softbank will become a major boon in future for the private equity firm.
Softbank actually owns all of the company’s outstanding shares now. However, Fortress Group will continue executing its daily operational activities like before as it is already managing nearly $40 billion in assets.
The acquisition has led the company to achieve its goals successfully as it was the first private equity firm in the U.S to be traded publicly; the company is no longer being traded publicly. The Co-Founder of Fortress Group- Wesley R. Edens is equally excited to share this opportunity with Masayoshi Son as he believes that SoftBank has been able to achieve extraordinary under his visionary leadership. Recently Masayoshi Son also promised to invest $50 billion in the U.S. during his visit to Trump Tower. The two companies are rooting for each other in the future.
Randal Nardone is the Co-Founder and Principal of Fortress Group in New York.
Randal Nardone represents the acquisition of the company as a big step towards the establishment of investment services and looks forward to joining hands with the CEO of SoftBank. Read more on