Fortress Investment Group is an Investment manager that has helped many underperforming businesses continue running efficiently. Being very relevant in the economy, this company has experienced rapid grow to the point of being publicly listed in the New York Stock Exchange in 2007. Professionals therein, have proved the masses why they are the best and the performance record goes a long way to cement their importance.
However, Brazil has been struggling with hard economic times of recession. This has halted many things; it businesses are not trending south most likely they are stagnant in operations. FIG has also fallen victim to this prevailing condition. Nevertheless, being a financial advisor, it has sought other ways to remain strong. Peter Briger the Fortress Investment Group co-chairman began negotiation with a friend at SoftBank which is based in Japan, a telecommunications company.
This pact has since materialized as SoftBank has agreed to buy Fortress Investment Group at a value of US$ 3.3 million. The announcement was made by Masayoshi Son, the SoftBank Chairman who is known for making bold moves and decisions for the company. This ideally helps SoftBank get into Provision of financial services and will salvage the future of FIG. Other investors into this deal include; Apple, Qualcomm and Oracle. The aim of the acquisition solves the challenge the company is experiencing in the public markets and will see it go private.
About Fortress Investment Group (FIG)
FIG was conceived in 1998 by Randal Nardone, Rob Kauffman and Wes Edens who has since left to pursue his passions in sports. It is an investment firm based at New York City and trading at the stock exchange since 2007 when it got its first listing. It offers a host of services from financial and investment advisory to management of credit funds, hedge funds and private equity. Apparently, it has over 1,600 private and institutional investors who have benefitted from its services. Fortress Investment Group has several honorary titles such as, ‘Hedge Fund Manager of the Year – 2014’ and ‘Management Firm of the Year’ as per the Institutional Investor.