Since it was established almost 40 years ago, SoftBank has been pivoting focus, all while constantly growing and getting more successful. With SoftBank’s acquisition of one of the leading investment management firms called Fortress Investment Group, the Japanese company has set the foundation for its next development phase: becoming one of the world’s largest investment firms.
The 3.3-billion-dollar acquisition is indeed a big deal, but it’s unlikely that it will change much regarding the way that Fortress Investment Group operates every day. To clear regulatory complications, SoftBank agreed to remain hands-off concerning the management of Fortress Investment Group’s considerable assets. It’s interesting considering the back stories that are behind these two firms involved in the acquisition. Although it might look odd that SoftBank would go on and acquire a firm while agreeing to allow it to continue running independently, this move is savvy from the viewpoint of segueing into the services of investment. With Fortress Investment Group acquisition, SoftBank is capable of putting together a structure that’s more institutionalized and favorable to crucial investment activities such as investor relations and compliance.
Typically, Fortress also benefits from this arrangement by not being traded publicly anymore and by gaining access to a wide array of limited partners who are in Asia. Also, chances are that Fortress Investment Group is going to soon move into different directions, and there’s little doubt that SoftBank is going to continue reaching new heights of success.
About Peter Briger
Peter Briger received his Master of Business Administration from Wharton School and Bachelor of Arts from Princeton University. He serves Fortress as its principal and its board of directors co-chairman. Since November 2006, Peter Briger has been serving Fortress as a board of directors member, and in August 2009, he was elected as the co-chairman. Since March 2002, he has been a Fortress management committee member. He’s responsible for the real estate and credit business at Fortress Investment Group and more
Before joining Fortress Investment Group in March 2002, Peter Briger spent a decade and a half at a company called Goldman, Sachs & Co; this is where he managed to become a partner in 1996. He’s serving on the board of a non-profit organization called Tipping Point. The organization serves low-income families that reside in San Francisco. Additionally, he’s serving on the Caliber Schools board, which is a network of charter schools that are committed to making students prepared in competitive 4-year colleges and beyond.