2018 was a monumental year for Fortress Investment Group. It was a year of expansion and transition. It was integrated into SoftBank Group Corporation, a financial conglomerate. SoftBank Fortress at 3.3 billion dollars and set the framework for Fortress’s role in the development agenda. Fortress started as a hedge fund and transitioned into a competitive investment group. It attributes development to good leadership and hardworking employees. It was the first company to go public with the first public offering in 2007. It never looked back and climbed the economic ladder.
When SoftBank acquired Fortress, it came as a surprise to many. 2018 was dominated by Fortress activities. They were responsible for over 40 billion dollars in assets. SoftBank integrated Fortress employees to help with operations. Wes Edens, Randal Nardone, and Peter Briger are some of the people who joined SoftBank. Softbank founder Masayoshi Son said that Fortress has a good track record and looks forward to gaining from its expertise, good leadership, and investment strategies. The purchase will expand capabilities of SoftBank and make a world-class company.
Softbank decided to buy Fortress after it realized its potential and performance in investment. Fortress Investment Group requested SoftBank to allow it to retain control of operations, and leadership structure. It stated that it likes things done a certain way to maximize profits and did not want anything to change. SoftBank accepted Fortress’ request for control of operations. The two companies had to adjust to the new situation, and 2018 has been successful. It was a year of learning and making gains. Fortress Investment Group has expanded its portfolio in the real estate sector, infrastructure development, and housing projects. They have learned when it transition from being public to private.
Wes Edens says he likes the experience so far and looks forward to exciting experiences. In the long run, Fortress and SoftBank want to remain separate entities to solidify current strategies. Every eye is on SoftBank to see whether it will make substantive gains from the purchase. Fortress will remain a separate entity to further investment activities for SoftBank. SoftBank is getting financial management knowledge from Fortress Investment Group.
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