Fortress is an American investment management firm based in New York and was founded by Wes Edens, Rob Kauffman, and Randal Nardone in 1998. The firm joined the New York Stock Exchange on February 9, 2007.
After going public, the Fortress Investment Group was named “Hedge Fund Manager of the Year” in Institutional Investor magazine and Management Firm of the Year by HFMWeek in 2014. As of 2020, the firm was estimated to manage close to $46 billion in assets.
Today, Fortress is estimated just under $54 billion in assets. The company works on behalf of approximately 1,800 institutional clients and private investors worldwide. With over $3 billion in acquisition, the Japanese conglomerate “SoftBank Group Corporation” currently owns the firm.
While still in deliberation, SoftBank has considered the sale of Fortress Investment Group. The corporation’s original purpose for investing in Fortress was to help manage Vision Fund, the world’s largest technology-focused investment fund.
The idea for this expenditure was led by SoftBank chairman and chief executive, Masayoshi Son. Since this investment, in 2017 Softbank pulled away from residing over the day-to-day management of Fortress Investment Group. Now the firm is running independently once again.
The company has asked for anonymity because the matter is private. Further official statements have been refused from SoftBank and Fortress representatives. With several accolades, growing assets and several investors, the public will likely eagerly await for more to come on the decisions for the future of Fortress Investment. Go Here for related Information.