Fortress Investment Group Reorganizes As Part Of Softbank Group
Softbank Group, a major internet, and telecommunications company headquartered in Japan purchased Fortress Investment Group, a United States asset management, and private equity company, with a steady eye on the future.
The acquisition of Fortress seemed to sharply contradict the usual investments that Softbank Group makes in the tech and telecom industries. But the move was characterized as both ‘bold’ and ‘truly visionary’ by one popular financial analyst.
Jesper Koll, Chief Executive Officer working at Wisdom Tree Japan, said while speaking on CNBC said that the company’s Fortress acquisition served to provide the Japanese company with an expertise in financial management that rivals any company in the world. This acquisition, explains Koll, allows Softbank to enter the asset management industry near the top of the food chain.
Fortress boasted of assets of more than $70 billion at the time of the acquisition and these investments are in private equity, real estate, and hedge funds. Fortress also has a history of conducting business in the country of Japan and in 2008 purchased hotels that were previously owned by the now-defunct Lehman Brothers.
Fortress has demonstrated a deep core knowledge of each industry in which the company makes investments. The company has a particular expertise in all aspects of managing both financial and physical assets.
Fortress has also been applauded for is its knowledge of capital markets. The company has been successful many times at leveraging this expertise with capital markets to obtain financing that is low risk, and low cost, to fund their investments.
Fortress has a skilled leadership team in place to assure that the potential of the many talented individuals performing duties for the company can be realized with concrete results.
Wesley R. Edens is an original co-founder at Fortress and still works with the company in the capacities of Principal and co-CEO. Before the foundation of Fortress, Edens worked at Lehman Brothers before moving to Blackrock to further sharpen his skills.
Peter L. Briger is another Principal of the company that shares the duties of the Chief Executive Officer. Mr. Briger has been a great benefit to the company by bringing the 15 years of experience that he gained while working with Goldman Sachs to Fortress Investment Group.
Another key component of the company is Randal Nardon, another co-founder, and principal of the company. Nardone performed exemplary duties with other companies before becoming part of the Fortress team, including a stint with Blackrock Financial management.
The full scope of knowledge and expertise at Fortress Investment Group was on full display in 2010 when the company became the main lender for Millenium Development Group which was building an athlete’s village to house athletes competing at the 2010 winter Winter Olympics. The athlete’s village, which was located in Vancouver, British Columbia, was built at a cost of $875 million.
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