SoftBank has continued to grow over the years and has done incredibly well since its creation close to forty years ago. The company made the decision to acquire Fortress Investment Group recently, which is a well known investment management firm. This has made Softbank one of the largest investment firms on Earth, and the firm will let Fortress continue to handle its own business. Softbank had to include this in its deal to get over regulatory obstacles.
The move will most likely end up being favorable for both companies as Fortress Investment Group has done well when left to work on its own. SoftBank has roots in Japan that go all of the way back to the 1980s after the company was founded. Fortress Investment Group has more connections in the United States in New York City, where it was put together. It was founded by Wes Edens and Randal Nardone and has thrived since the start.
Fortress Investment Group will remain in NYC and will operate independently. This means that the firm will be able to operate without being affected by its new ownership. SoftBank paid a large sum for Fortress, which is managing $40 billion, and also had to pay a 39% premium on the company’s share price. There was a whole lot more going on behind the scenes as Masayoshi Son, the CEO of SoftBank, tried to improve the odds of the deal working out. He visited Trump Tower after the president was inaugurated and made a promise to invest $50 billion in the U.S.A. during his time there.
Fortress Investment Group is known as the first private equity firm in the U.S. to ever be traded publicly. It later became the first private equity firm to be taken off of the New York Stock Exchange. The leadership of the firm was very happy to be delisted from the exchange because they saw it as freedom. It means that the firm can operate without having to worry about pleasing its investors. Wes Edens commented that being a private company means that the team at Fortress can focus on its long term goals.
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