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January 05, 2019

Monitoring The Mind Blowing Developments At Fortress Investment Group

The investment firm has diversified its investments over the years and that has earned it a position among the best performing in the industry. Its activities have earned it global recognition and was estimated to have an asset base worth more than $69.6 billion at the end of 2016.

Fortress Investment Group was established by Wes Edens, Rob Kaufman, and Randal Nardone. The management has always focused on adopting customer-oriented policies and that has led to an increase in the number of clients which currently stands at more than 1,750. Some of the portfolios at the organization include real estate, credit, and private equity. The company is public and is listed on the New York Stock Exchange.

One of the founders of Fortress Investment Group, Rob Kaufman, left the business to focus on car racing. He started his own company and has competed in many national races over the years with some of the best talents in the industry. A Japanese firm, SoftBank acquired fortress. The company has invested heavily in technology and has global recognition. It has invested in areas such as telecommunication, AI, and energy.

The acquisition deal was valued at about $3.3 billion and the money was received in cash. The decision about the merger was unanimously endorsed by all the stakeholders at the investment management firm and all the Class A shareholders received $8.08 for each share. The Fortress Investment Group shareholders were also expected to receive $0.09 for each share as dividends during the fourth quarter of 2016.

Some of the recent legislative changes prohibited the international firms to be part of the senior management in the United States. Therefore, SoftBank agreed to leave the management roles at Fortress Investment Group to the leadership team at the time of the acquisition which included Peter Briger, Wes Edens, and Randy Nardone. One of the conditions of the acquisition deal was that Fortress would continue to operate independently as the subsidiary of SoftBank. The headquarters of the company would also remain unchanged. The management of the Japanese company was impressed by the business model, personnel, and culture of Fortress and was optimistic that the partnership would be successful.

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