SoftBank to Acquire Fortress Investment Group

February 17, 2017

On February 15, 2017, SoftBank Group Corp. announced it had agreed to acquire Fortress Investment Group LLC.

SoftBank Group Corp. (“SoftBank”) has agreed to acquire Fortress Investment Group LLC (NYSE:FIG) (“Fortress”) for approximately $3.3 billion.  The all-cash deal will be SoftBank’s first major investment in an asset manager and under the terms of the agreement SoftBank can bring in partners for a portion of the investment.  Fortress shareholders will receive $8.08 per share representing a 38.6% premium over the February 13th closing price.  Fortress’ principals will continue to lead Fortress as an independent business within SoftBank.  The transaction is expected to close in the second half of 2017.

Fortress is a New York based asset manager founded in 1998 which manages investments in hedge funds, private equity and real estate with $70.1 billion of assets under management as of September 30, 2016.  SoftBank is a global multinational telecommunications corporation headquartered in Tokyo, Japan.

To read the press release: please click here.


Categories

Hedge Fund M&A, Investment Manager M&A, Private Equity M&A, Transactions