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November 2, 2021

Japan’s SoftBank mulls sale of Fortress Investment Group

By Verdict Staff

Japan’s SoftBank is reportedly is reviewing options for Fortress Investment Group, which it acquired in 2017 in a cash deal worth $3.3bn.

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The Japanese conglomerate’s discussions in connection with the asset manager are currently in the initial stage, Bloomberg reported citing people with the knowledge of the matter.

According to sources, the firm is seeking options for Fortress partly due to its inability to integrate the latter’s operations with its own.

SoftBank and Fortress representatives declined to comment on the report.

The US-based Fortress was purchased by SoftBank with the aim to leverage the firm’s investment expertise to help manage its Vision Fund.

The acquisition, which was first announced in February 2017, was concluded in December that year.

At the time SoftBank Group chairman and CEO Masayoshi Son said: “This opportunity will immediately help expand our group capabilities, and, alongside our soon-to-be-established SoftBank Vision Fund platform, will accelerate our SoftBank 2.0 transformation strategy of bold, disciplined investment and world class execution to drive sustainable long-term growth.”

SoftBank agreed to spare control of Fortress’ everyday operations in order to win approval from the Committee on Foreign Investment in the US. Fortress continues to operate independently to the day.

Founded in 1998, Fortress managed $53.9bn in assets across credit, private equity, and permanent capital vehicles as of 30 June 2021.

The news comes as SoftBank continues to divest its non-core holdings. It recently divested its majority stake in Boston Dynamics and phone-distribution company Brightstar.

It also agreed to offload UK-based software design company Arm to Nvidia Corp and to sell some of its holding in T-Mobile US.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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