The Fortress Investment Group and the Softbank Group have signed an acquisition contract back in 2017 for $3.3 billion. This partnership would allow the Softbank Group to expand their market and gain access to a lot of businesses in the United States. The Softbank Group, a Japanese conglomerate headed by Masayoshi Son, has become one of the most influential businesses in the world, and their chief executive officer is among the richest person on the planet, according to Forbes. Randal Nardone, Wes Edens, and Peter Briger agreed to the deal because they wanted the company to experience another economic revival after their stock price movement has started to become stagnant. With the acquisition of the Fortress Investment Group, their private equity company’s stock prices began to climb, much to the delight of their investors and stockholders. Visit therealdeal.com
The Fortress Investment Group was the idea of its three founders – Wes Edens, Randal Nardone, and Rob Kauffman. They established the company in 1998, hoping that they could also emulate the formulas used by other financial firms to succeed in the industry. By learning about their previous companies, the three founders started to apply what they have learned in the past, and to their surprise, their strategy worked.The company grew larger, and by the 21st century, they are considered as one of the fastest growing private equity firms in the country. The Fortress Investment Group has been managing billions of dollars’ worth of assets, and their stock market value reached an all-time high.
However, there are so many factors that contributed to their slow growth after the recession of 2008. Even if they survived the economic meltdown which ravaged the globe in 2008, the Fortress Investment Group was not able to escape its long-term effects. The company might have been awarded several distinctions because of their performance during the economic meltdown, but they soon faced their challenges as the assets that they are managing began to decline. This is where the Softbank Group decided to acquire the company. The Softbank Group retained the company’s executives and promised that they would be transforming the company for the better. Read more on https://www.wsj.com/articles/wesley-edens-is-an-investor-with-an-affinity-for-the-underdog-1532111122