Fortress Investment Group is geared up to raise approximately $2 billion. This money is earmarked for direct lending and raised under the ownership of Softbank Group Corp. Another 5 billion for flagship credit opportunities. This moves Fortress into the next step as Softbank.
Fortress changed its lineup following the SoftBank Group purchase of Fortress and promoted Josh Pack and Drew Mcknight to managing partners in the credit group while Joel Holsinger left the firm. Fortress studies other money management groups in the ring and noticed that they’ve closed their direct lending pools. Asset manager sees this as an opportunity to pick up where the other investment companies left off.
A little background on Fortress Investment Group. It manages alternative assets. Fortress Investment Group was founded in 1998 and has over 1,100 employees. With a keen eye on a plethora of investment strategies, they provide a service for over 17,000 clients worldwide. Softbank became the owner of Fortress in February 2017 for an estimated $3.3 Billion. The acquisition was completed after the agreement to all conditions.
Since January 2008 Fortress has invested in 24 companies like Lotterydotcom, MoneyMe, Mash, Litify and Bluevine just to name a few. These companies provide a range of services such as loan financing to other businesses, Cloud Video Surveillance, producing devices for small bones and joints, data archive solutions, and more. Fortress Investment Group in 2007 was dubbed the largest private equity firm in the US to be traded. as of December 2017.
Fortress boasts of approximately $43 Billion in assets. While headquartered in New York, Fortress has affiliate offices worldwide. The company’s forte in pricing, owning, financing, and management of assets from real estate business to financial assets. They have developed an investment team armed with the knowledge of the fields they invest in. This gives Fortress a leg up in the industry when making investments.
To Learn More Click Here