SoftBank Group Corp, a Japanese conglomerate has put key considerations in the sale of Fortress Investment Group as it reviews numerous options for the famous asset manager that it acquired almost four years ago. This is according to reports released by people who have ardent knowledge in the matter. One of the people depicted that SoftBank is in the early stages of making deliberations concerning Fortress. The shocking move by the Japanese conglomerate emanated from the fact that it was unable to mesh operations in Fortress Investment Group using its people. However, when the issue was raised, representatives from both Fortress and SoftBank were reluctant to comment.
It has been established that Fortress had acquired over 3 billion dollars and SoftBank intended to use Fortress’ specialized expertise to aid in the management of its Vision Fund, which was in its early stages of formation. In 2017, SoftBank Chief Executive Officer and Chairman, Masayoshi Son depicted that the opportunity was to aid in the expansion of the company’s capability and that of the yet-to-be-established Vision fund. He continued to depict that the opportunity was also to accelerate the group’s SoftBank 2.0 transformation strategy of disciplined investment, bold and excellent execution to steer sustainable and steady growth.
Fortress Investment Group is a top diversified investment management company located in New York City. During its formation in 1998, Fortress was initially a private equity company. The brainchild behind the establishment of the New York-based firm was Rob Kauffman, Randal Nardone, and Wes Edens. However, the firm received an exceptional breakthrough when it was launched on New York Stock Exchange (NYSE) in February of 2007. At that time Fortress Investment Group hit the global headlines as the first US’s big private equity company to be traded publicly. According to credible reports, Fortress was managing alternative assets worth over 45 billion dollars at end of June 2020. To know more click: here.