SoftBank Looks to Branch Out With $3.3-Billion Acquisition of Fortress Investment Group

SoftBank was established nearly four decades ago. All along, this firm has turned from one focus to the other as it grows and become successful. Through the acquisition of the fortress investment group, which is a leading firm in the investment management, SoftBank has set the stage for its next development that is to become the leading investment service firm in the world. Although the $ 3.3 billion procurement is a big deal, it does not stand to influence the Fortress Investment Group daily operations in a significant way. This way, the SoftBank has agreed to remain hands-off in the management of the Fortress Investment Group assets mainly to handle the regulatory hurdles.

While the SoftBank trace its establishment back in the 1980s, the Fortress Investment Group, on the other hand, is considerably newer. Randy Nardone as the CEO and Wes Edens as the co-founder founded Fortress in 1998. Today, this firm has more than 20 years of experience in the asset management, and it manages various ventures on behalf of more than 1,750 institutional and investment clients. As the part of the deal, Fortress Investment will continue to serve independently, and it will retain its headquarters located in New York City.

Why SoftBank Acquired Fortress Investment Group

In the business operations, the acquisition has a lot of essences. For instance, an investment firm can acquire a new venture to expand its reach or to diversify its assets logically. Although sometimes acquisition makes no sense to the outside world, it definitely adds a lot of value to the parties involved. The most shared question on people’s mind, however, is why SoftBank a multinational holding, which primarily deals with internet and tech startup, would have a particular interest in the fortress.

However, the deal between these two firms makes more sense when analyzed from their historical perspective. This because these firms have followed different professional pursuits to branch-out their services and expand their reach. For both of them, they have considered rebranding and merging new ventures to remain relevant in their operations and to stabilize their activities in their local markets and abroad.

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Peter Briger Transforms Fortress Investment Group to an Alternative Business

At the age of 51, Peter Briger has managed to enter the list of the renowned world’s billionaires as indicated on the Forbes list. This is a very impressive perception that has inspired a lot of young investors who wonder if they can achieve their dreams before the retirement age catches up with them. Having graduated with a bachelor’s degree in Business Administration from the Princeton University, Peter Briger decided to advance his education by pursuing a master in the same discipline at the Wharton School of Business. Here, he performed excellently, and the investment companies were all willing to welcome him to their teams to exploit his extensive abilities.

Shortly after the completion of the degree, he was employed at the Goldman Sachs where he kicked off his career in investment and finance. At Goldman Sachs, Peter Briger served in various roles ranging from operational to management and also the leadership ones. This gave him a clear opportunity to showcase his abilities in the running of the company’s operations. As he continued with the employment at the reputable bank, Briger also enrolled in some supplementary educational programs where he tried to enhance his skills and knowledge in the finance and investment field. His main focus was on the management of real estate, hedge funds and also the distressed assets. These were very crucial advancements that came to help him in the value addition to the Fortress Group.

After working for the banking organization for two decades, Peter Briger was invited by the principals of Fortress Investment Group to assist them in the transformation of the company from a private equity manager to an alternative investment business. This was because the principals understood that Briger had some unique expertise in the management of the credit and hedge fund sections of the investment market. This was a great opportunity for Peter Briger to showcase his proficiency in the field of investment management. He joined Fortress Investment Group in 2002 and immediately became a co-principal, alongside the previous two principals, Randal Nardone and Wes Edens. Briger introduced hedge funds and credit funds to the company’s portfolio, an aspect that led to the great increase of the organization’s value of assets. Original source