Fortress Investment Group has gotten a new owner through a purchase worth 3.3 billion dollars. The Japanese known company called Softbank that was started nearly 40 years ago, made the acquisition. The bank has been successful in the market and seems to be taking a new direction. By buying Fortress Investment Group, the organization shows that it is on track when developing a new area of focus. They are now developing into one of the largest investment firms known to the world. The 3.3 billion dollar purchase, however, will not affect how Fortress investment group operated on a regular basis. Softbank has no leverage over the direction and guidance of fortresses many assets.
Masayoshi Son out of Japan, built Softbank in the 1980s. Its primary focus at that time was being a wholesaler when it came to PC software. Next to the 1990s, the company set its sites on computer magazine publishing and computer trade shows. Soon revenue spiked and their fortune grew starting in 1996. This was the year when they acquired the well known internet business called Yahoo. Even till this day, Softbank has a position in nearly 400 internet companies and provides funding to technology startups. Fortress is very good an example of which shows a significant change in how Softbank is looking to position itself in the market and headed in a new unique direction for the organization.
Fortress it’s much newer and has a firm grip on New York city which is the home of their headquarters. Where as Softbank has its roots in Japan since the 80s. Fortress Investment Group was created by CEO Randy Nardone. Many in the industry believe Fortress Investment group would become a worldwide name when it came to alternative asset management. The organization will continue to operate the same in spite of the acquisition. Surprisingly, Softbank has no say in how Fortress will get to handle their 40 billion in assets within the firm. Softbank is extremely happy with that position they’ve taken and looks forward to their journey in becoming a more larger recognized investment bank in the market.
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