Fortress Investment Group has always been known for making innovations, but 2018 was a particularly important year for the company as it went through a lot of changes during this time that all culminated to a 2019 that has been just as exciting. 2018 was a year of transition after the investment firm completed its sale to SoftBank for a total of $3.3 billion. In the past, being delisted from the New York Stock Exchange was usually seen as a bad thing, but when the company was able to go private after the purchase it gave them new opportunities that they could not have pursued as a publicly trading entity. Up until around a decade ago, Fortress Investment Group that had been founded in 1998 was a private investment firm until they created an IPO. At this time, regulations and the market, in general, were a lot different than it is today and it was time for a big change for the company. Read more on this article at nytimes.com
The closing date for the Fortress Investment Group purchase by SoftBank was in December of 2017. Most of 2018 was spent incorporating the operations of the company into the global strategies of SoftBank. SoftBank is a company that is known for financing the information revolution and they recently created its Vision Fund. With the support of Fortress Investment Group and its financial knowledge, they hope to be able to maximize the capabilities of this fund in order to produce strong returns while advancing technology and potentially disrupting different industries.
The Chief Executive Officer of SoftBank stated that he was looking forward to his company being able to benefit from the investment platform, leadership, and overall expertise that Fortress Investment Group has to offer them as a subsidiary. The executive team of the company stayed the same after the purchase as they are operating relatively independently. This is due to the fact that the track record of Fortress Investment Group was one of the main reasons why SoftBank was so interested in the company. They trust the management that is in place to make the right financial decisions for the future. Related: A Force of Innovation: Two Decades of Fortress Investment Group