Fortress Investment Group has been in the asset business for twenty years. The company was founded in 1998 by Randal Nardone and Wes Edens. For the next few years, the company built reputation in the world of real estate. Fortress Investment Group went public in 2007 and made Nardone as well as Edens billionaires. Since then the market has not been terribly kind to the company and a Japanese firm called Softbank purchased the company for more than three billion dollars.
In the newsversion.com article, Fortress Investment Group will still be an independent company in spite of being bought by Softbank. The article states that there should be no disruption in the day to day activities. Most of the big names like Randal Nardone and Wes Edens will still be a part of the company. The main reason that Softbank paid more than three billion dollars for the company is due to the fact that Softbank wanted to branch out into the American market.
Softbank was founded in 1981 by Masayoshi Son. At first, the company sold personal computer but eventually branched out around the world. Softbank now has a stake in more than four hundred companies as of 2017. It has bought stakes in businesses like e-commerce, broadband services, and fixed-line telecommunications.
When Fortress Investment Group was bought by Softbank it wanted to do one thing. The company wanted to be able to stand on its own and help Softbank at the same time. It has been able to do that and more. Now, Fortress has more than forty billion dollars in assets thanks to private investment. Now the company can take a step forward and try to reinvent itself for the future.
Fortress Investment Group may have had a rough patch over the last ten years but it can now be the helping hand that Softbank needs to explore the American market. One of the conditions of the purchase was that Fortress was able to manage its own assets. That way Softbank wouldn’t face big hurdles. Now Fortress can start fresh with a bigger and better foundation.
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