2018 was a year of huge change at Fortress Investment Group. This two decade old company became a part of Japan’s SoftBank Group Corporation in 2018. They were purchased for $3.3 billion. The purchase provided the foundation for further successes in the area of investing in private equity and real estate. Fortress Investment Group was a noteworthy company even when it was founded in 1998. They began as an assertive hedge fund that then became financier and investor on the global stage. After 9 years they were the first company of their type to go public with an initial public offering, in their case on the New York Stock Exchange (NYSE).
The purchase of Fortress Investment Group by SoftBank was closed in December 2017. In 2018, this company oversaw about $40 billion in assets which are managed independently by its three principals, Peter Briger working out of San Francisco and both Randal Nardone and Wes Edens operating out of New York City. SoftBank is a firm that invests in the information revolution. They are the owner of Sprint in the United States and have major investments in Uber and Alibaba. They have a Visio Fund which provides financial backing to companies that offer innovative technology. Many of the companies there are invested in are in their startup stage and they are working on technology involving robots, renewable energy, artificial intelligence. and the Internet of Things.
The founder and CEO of SoftBank, Masayoshi Son, said that Fortress Investment Group has an excellent track record of investing. He said when buying this company that he looked forward to benefiting from its leadership and their operation of an excellent investment platform. He saw the purchase as one that would help expand what his company does and increase its capabilities. In 2018, Fortress Investment Group continued to do what it does best. They have invested in a number of real estate, infrastructure, and senior housing developments. Wes Edens said that that it was a really interesting year being at a private company once again after having been public for a decade. 2018 was the best year in his company’s history, he added.