SoftBank to Acquire Fortress Investment Group
SoftBank is set to buy Fortress Investment Group, an American private equity firm that is in charge of $70 billion of assets. Fortress Investment Group investments are wide and covers hedge funds, private equity and real estate.
“SoftBank is set to buy Fortress Investment Group, an American private equity firm that is in charge of $70 billion of assets.”
~ NY Times
SoftBank will fork out $3.3 billion for Fortress Investment Group. The three leaders of Fortress Investment will reap a combined $1.39 billion from the sale. They will still remain in charge of the business and have agreed to invest half of their after tax proceeds from the sale in the company funds.
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