Twenty years; this is the duration Fortress Investment Group has been dominating headlines in the investment and finance world. But something bigger happened in 2018. The firm was acquired by SoftBank, of the biggest players on the world’s finance scene. The acquisition of Fortress by undoubtedly one of the most powerful finance conglomerates promises to usher the investment group into a new era.
The acquisition is valued at $3.3 billion, and it is the first such investment deal made by SoftBank (investing in an investment firm). Thanks to this acquisition, stakeholders at Fortress will be smiling into the near future as this deal promises to ensure that Fortress Investment Group becomes a participant in the realm of; cutting edge technological advancements, private equity funds, and the future property market space.
Timeline of The Events at Fortress Since Its Establishment
Fortress Investment Group was established 1998, shortly after, it became of the go-to hedge funds; this was attributed to its assertive nature on the existing market during the yesteryears.
Thanks to the unrivaled services and products, the firm was offering, Fortress experienced expedited and tremendous growth, and as a result, the firm soon became one of the world’s most sought-out financer and investor. Ten years after its establishments, Fortress was listed on the (NYSE) New York Stock Exchange during its (IPO) Initial Public Offering, being the first company of its kind to pull the feat.
And now, ten years since the IPO, and 20 years since its establishment, the firm has completed its acquisition by SoftBank. The last transactions of the purchase were finalized on December 2017.
Under SoftBank, one of the first transactions Fortress Investment Group has carried is overseeing the integration assets valued at $40 billion, initially managed by two principles, into the financial conglomerate’s global strategies.
Globally, SoftBank is known for its efforts in supporting the information and financial revolution. To proves this, the firm has made significant investments in communication and telecommunication firms a great example being its investment in Sprint; a United States based telecom firm. SoftBank has considerable stakes in firms such as Alibaba, Uber, and many more.
About Fortress Investment Group: www.thestreet.com/quote/FIG.html