FIG is a company that specializes in long-term investment vehicles. The company has 3 major divisions that are permanent capital, credit, and private equity divisions. Within these divisions, it specializes in operations management, capital market, specific knowledge of firms as well as mergers and acquisitions. Peter Briger one of the principals at Fortress Investment Group is in charge of the Credit division which includes funds like Fortress Japan Opportunity Funds, Drawbridge Real Assets Funds among others.
The Private Equities division at FIG is run by Wes Edens and Randal Nardone and the division makes money from holdings in which it has a controlling share. These holdings include Holiday Retirement, Aircastle, Brookdale Senior Living and New Fortress Energy. In the Capital Markets division, there are five capital vehicles that are traded publicly and they include New Senior Investment Group, New Media Investment Group as well as Eurocastle Investment Limited.
In 2017 the company was acquired by SoftBank which is based in Japan. The acquisition was deemed by both sides as mutually beneficial Softbank made it possible for Fortress Investment Group to access a wider international market. On the other hand, SoftBank would benefit from the Knowledge and Experience that Fortress investment Group possesses on investment. SoftBank parted with $3.3 billion in the acquisition and it was the companies first investment in the area of asset management.
Softbank is a major investor in the Information Revolution and has managed the Vision Fund that backs one of a Saudi Desert project that will see the construction of a solar power generation plant. The fact that the investment firm has made an investment in Japan might have been one of the things that made the deal possible. Morgan Stanley and JP Morgan Securities acted as advisors to Fortress investment group during the acquisition process. The FIG principals speaking on the deal made it clear that the deal was going to be a great opportunity to increase its revenue and grow.
About Fortress Investment Group (FIG)
FIG was founded in 1998 by Randal Nardone, Rob Kauffman, and Wes Edens. In 2007 the company went public becoming the first in its industry to do that.
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