Fortress Investment Group is a highly diversified alternative investment organization that has spread its wings beyond the US boundaries. The company uses its longstanding experience to assist investors in reducing business risks and to identify alternative assets that few other asset management and investment organizations notice. Fortress offers services ranging from financial advisory in a broad range of strategies for investment including liquid markets, private equity, and the conventional management of assets. Fortress has joined hands with SoftBank, the Japanese digital technology company with a bias for telecommunications, artificial intelligence, clean energy technologies, smart robotics, IoT among others.
SoftBank Purchases Fortress
Fortress Investment Group manages assets for over 1750 public and private clients. In recent time, Fortress attracted the attention of SoftBank, a giant Japanese company specializing in digital technology solutions across a range of client needs. Fortress was acquired by SoftBank in a deal that allowed Fortress to continue operating independently. The officials from the two companies confirm that the deal has successfully been sealed; with SoftBank meeting all the statutory requirements and conditions for the purchase. The SoftBank management says that the acquisition of Fortress adds to its investment expertise. SoftBank purchased Fortress at a cost of $3.3 billion. SoftBank now owns rights to all of Fortress shares. All conditions for closing the transaction were met including the approval by the shareholders of Fortress. Details of the deal reveal that all class “A” shares will be converted to a compensation of $8.08 each, in cash. The merger proceeds would be paid out based on the payment procedures outlined in the Fortress Definitive Proxy of June 7th, 2017.
Following the purchase, Fortress Investment Group shares have been withdrawn from the NYSE. While Fortress is allowed to continue operating independently, with Peter Briger, Wes Edens and Randy Nardone still heading the organization, the financial results will be consolidated with those of SoftBank. According to Peter Briger, the deal allows Fortress to access a larger spectrum of resources and clients. They say that the Fortress management remains intact. In fact, they retain their culture, business model, and staff. So, there is no worry that anyone is going to lose. It’s a win-win scenario for all parties. SoftBank management on its part observes that there is no need to upset the order since the current Fortress formula is still working the desired magic. SoftBank seeks to take charge of the next technology revolution that is already knocking at the door. SoftBank astounded investors and the market by posting over $93 billion in capital investments during its initial close.
Fortress Investment Group has been growing over the years and has consistently posted impressive growth reports. Fortress has attracted a wide range of clients with diverse interests and investment preferences. It has a history of helping startups and established organizations to deal with risk. Fortress has a knack for investing in rare assets. It identifies assets that have been declared unprofitable by established institutions and buys them. It refurbishes such properties and either resell or rents them out. Figures show that Fortress has made a fortune from investing in such ignored, neglected or even hated assets.