Since Tokyo-based SoftBank Group Corporation gained interest in Fortress Investment Group (FIG), the subsidiary firm saw an increase in managing assets. When Japanese entrepreneur Masayoshi Son received ownership, he immediately placed FIG in the position of expansion and exploring future technologies. What attracted SoftBank to the management company is its history of raising capital funds and managerial skills of building strategic portfolios. Leaders, Peter Briger, Randal Nardone and Wesley Edens retain their role as executives at the New York headquarter office.
Between September 2017 through the end of June 2018, Fortress Investment Group experienced an increase in management assets by 5.3 percent. Business Wire reported the investment company managed $36.1 billion last year and $41.4 billion of assets the end of third quarter of this year. The firm’s performance is great news for Masayoshi Son who is confident in FGI, the investment managers, and investors. He expects the firm’s assets to double in a few years with the initiative of marketing its funds to global high-net worth investors. Read more on patch.com
Randal Nardone and Wesley Edens found Fortress Investment 20 years ago forming partnerships with other investment companies. Wall Street Journal released information in February 2017 stating that SoftBank acquired FIG for $3.3 billion. The purchase acquisition is a major asset for SoftBank in becoming the largest international investment firm in the world. It was the first leading close for the SoftBank Vision Fund, a subsidiary of the SoftBank Group Corporation which had over $93 billion in capital.
Fortress Investment Group marked history in 2007 as the first hedge fund manager in the United States to go public. The subsidiary continues to operate independently at its headquarters under the leadership of Nardone, Edens and Briger. SoftBank has the controlling interest in FIG’s investment funds comprising digital technology, real estate, energy, telecommunications, healthcare, credit, and transportation enterprises.
Now that the Japanese firm is the parent, Fortress Investment Group can explore other opportunities in foreign trade. SoftBank introduces other markets with emerging technologies, including artificial intelligence, internet services, and robotics investments. With the expertise of Fortress leaders in structuring and managing assets, it validates their commitment to continue growth of FIG.