It was the first alternative investment manager to go public back in 2007; its asset base has more than doubled from its pre-IPO stages; it invests its private equity pool in distressed real estate debt, senior living facilities, and railroad companies; and it was recently acquired by SoftBank for $3.3 billion.
The firm is Fortress Investment Group, and for the past two decades, the firm as acted as a conduit of finance, allocating capital through buy, and sell-side acquisitions. The multi-billion dollar purchase was initiated by Masayoshi Son- principal of the SoftBank Group Corporation, and Rajeev Misra- derivatives expert, and investment strategist for SoftBank.
Son, and SoftBank set their sights on Fortress Investment Group after deciding to pool its massive cash reserves into an investment fund for its telecommunication based projects. After briefly working with key decision makers at Fortress, namely Peter Geiger, and Wesley Edens, Rajeev Misra continued his relationship with the team as they sought a buyout.
The deal was a match made in heaven, as both parties heralded the other positively. Peter Briger Jr., and Wesley Edens for my believe in SoftBank’s trajectory and intent with Fortress Investment Group. Both are optimistic in regards to Son’s leadership of SoftBank, and have faith in who they call a “visionary leader”.
Son echoed this sentiment. He applauded the firm’s broad industry expertise, track record, and level of leadership conducted on behalf of investors.
By its 2007 initial public offering, Fortress Investment Group had approx. $29 billion in capital assets through institutional investments such as pension funds. The firm controlled $17 billion in private equity, $9 billion in hedge funds, and in real estate- $3 billion. Initial stocks made a remarkable debut of $35 a share.
From the time when Fortress burst into public markets, the firm has been impactful in alternative investment management.
Rainbow34 October 7, 2018