Fortress Investment Group (FIG) is an American-based company. It is publicly traded as FIG and is a top financial firm. As an investment management firm, Fortress handles specific areas of business and finance like private equity, railroads, credit funds, hedge funds, and asset management.
Recently, FIG was purchased by Softbank Group (SBG). Softbank bought Fortress Investment group for over $3.3 billion. And since its founding, FIG has boosted its wealth in investments quite steadily. Moreover, Fortress has had a 40 percent return on the company’s value in a period beginning in 1999 and ending in 2006.
In other business news regarding FIG, Fortress partnered with the technology company, iPass. Indeed, iPass is known as a worldwide leader when it comes to global options. FIG believes strongly in iPass and has given this company $20 million. And half of this 20 million dollars was given to iPass when the deal was solidified.
SoftBank to Buy Fortress Investment Group for $3.3 Billion. Regarding the acquisition of Fortress by the Softbank Group (SBG) was not affecting any of the positions for FIG executives. Fortress executives, Peter Briger, co-CEO, Wesley Edens, and the other co-CEO, Randal Nardone were allowed to keep their executive roles.
Softbank Group’s headquarters are located in Tokyo, Japan. The Financial Times stated about this purchase by the Softbank Group that the U.S. placed some regulations on this deal. Indeed, the U.S. made the SoftBank Group relinquish their day-to-day management of the Fortress Investment Group.
Founded in January 1998, FIG, which is headquartered in New York, has earned a plethora of awards over the last two decades. FIG’s well-noted achievements for their successful brokering of deals and other vital areas of financing. In 2014, FIG won the management firm of the year award. Institutional Investor, which is a finance-based magazine has also recognized FIG for their hedge fund managing. FIG has also won the “Credit-Focused Fund of the Year” award.
Fortress Investment Group has transitioned from a private financial firm to a public one. Indeed, Fortress was once a private entity but transitioned to a public entity in 2007. The Securities and Exchange Commission approved this change. Fortress began to trade as FIG (the stock ticker symbol) in 2007.
Fortress manages the following companies — and these are part of their portfolio: Rail America, New Residential Investment, Fortress Transportation, Brookdale Senior Living, Drive Shack, New Senior Investment Group as well as New Media Investment Group.