• January 24, 2022

Fortress Investment Group- Will it be Sold?

The Fortress Investment Group is a New York based organization run by three men. They are Wes Edens, Randall A. Nardone and Peter J. Briger, Jr. They created the firm to be an investment management company representing clients in the NY area and throughout the world. Fortress Investment Group raises, invests and manages assets in real estate, private equity and capital investments. In addition to private investors, they also represent institutional clients.

Founded in 1998 as a private investment firm, Fortress Investment Group of New York is now transformed itself into a highly diversified global investment manager. Fortress manages $54.2 billion of assets as of September 30, 2021, on behalf of approximately 1,800 institutional clients and private investors worldwide.

Just recently they announced that their affiliates had completed the transaction with DigitalBridge Group for a total amount of about $730 million. By completing the agreement affiliates of Fortress are now General Partner and Manager of DigitalBridge’s DCVR series of funds. This adds approximately $2.7 billion in combined assets.

In another important development, SoftBank released information to the media that they were considering the sale of Fortress Investment Group. The Japanese bank bought Fortress for more than $3 billion in 2017. Reuters News as other outlets have been reporting on this for a couple of months. Outlets have shared that SoftBank Group has not been able to weave in the two operations. Discussions as to the disposition of Fortress are in the early stages of review.

The New York based Fortress was purchased by SoftBank with the express purpose of having Fortress use its expertise in investments to help manage the bank’s Vision Fund.

Sources at both the Fortress Investment Group and SoftBank have not as yet commented on the discussions. What the final outcome will be is unknown at this time.