About Fortress Investment Group LLC.
Fortress Investment Group is an investment management firm that deals with various investment activities. Globally, it manages assets that are worth $36.1 billion as of September 30, 2017. The firm was established in 1998. It is headquartered in New York City. The founders of this private equity firm include Wesley R. Edens, Robert Kauffman, and Randal Nardone.The company’s experience in various asset-based investments cannot be matched with any other. It has competent experts that have specialized in their line of duty. They seek to work hard to see that their clients are fully satisfied. It is one of the main reasons for its success.Fortress Investment Group is good at coming up with unique ways of coping with possible challenges that may come its way. This trait helps it greatly to carry out complex investments successfully. The company also has excellent expertise in mergers and acquisitions which allows it to engage various types of clients with the aim of developing the best investment strategy.
SoftBank Acquires Fortress.
On February 14, 2017, SoftBank Group entered a deal with Fortress to acquire it. The amount of the acquisition was $3.3 billion. On July 12, 2017, the transaction completion happened and the closure of the acquisition done on December 27, 2017.This acquisition would serve greatly to aid the expansion of SoftBank into the United States where it seeks to begin its investment. The purchase is after SoftBank Group teamed up with Saudi Arabia to establish a $100 billion technology fund known as SoftBank Vision Fund. Half of the funds will be used in the United States.Though the SoftBank Group has fully acquired the Fortress Investment Group, the Committee on Foreign Investment in the United States has limited SoftBank on its involvement on the day to day activities in Fortress.
This until the committee approves of the acquisition.Fortress buys SuperValu’s Pompano Beach distribution Center.The SuperValu facility (Associated Grocer of Florida) found in 1141 Southwest 12th Avenue (Pompano Beach) was paid for at $66.4 million by an affiliate of Fortress Investment Group. The purchase is just a part of a national portfolio deal worth &483 million. SuperValu had previously acquired the Associated Grocers of Florida which implies that they owned the Pompano Beach facility.The facility has 769,391 square feet. The Fortress affiliate that paid for it is known as the CF Grocery Distribution PropCo. A $68.41 million mortgage from the Royal Bank of Canada funded the activity.
Source of the article : https://www.nasdaq.com/quotes/institutional-portfolio/fortress-investment-group-llc-725821