Softbank was founded in the 1990s it majorly dealt with the selling of pc software. From those decades the firm has been venturing from one business to another while progressively growing and gaining global recognition as one of the leading players in a wide range of industries.
Softbank has hit the news highlights again by making a clear move that nobody saw it coming by acquiring 3.3 billion investment of Fortress Group which is one of the largest asset management firms. The deal is a remarkable big deal from Softbank which is yet to fuel the Fortress Investment for its next stage of development.
Besides striking the big acquisition deal, it’s unfortunate that Softbank will not be able to have control over Fortress Investment day to day operations. As a matter of fact, and also to clear out conflicts Softbank has agreed to stay away from issues concerning management activities of the Fortress Investment Group.
By doing this, the soft bank has shown prudence and also the firm recognizes the fact that Fortress Investment Group paved its way to success by having their room for setting objectives and making own decisions.
This formulae of self-management by Fortress Group has proven to be effective over the years, and it is also for the same reason Softbank has shown interest to work with the leading investment group by making the 3.3 billion purchase which is yet to appreciate immense returns. Fortress Investment Group got its fame back in 2007 when the first public traded private equity firm in the US.
The achievement created waves in both the private equity world and the financial industry. After the acquisition deal has gone through, Fortress Investment Group has become the first private equity firm to be removed from the New York stock exchange.
Many firms regard this delisting as a loss of status, but things turn out to be different for Fortress Investment Group since its top management is reported to claim its return to the private organization will create room for pursuing their long-term goals.
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