Ericherrmann

Fortress Investment Group and SoftBank Combine for a Bigger Future

Fortress Investment Group was founded in 1988, and since that time, it has become a global financier and investor. It grew so much in its first 10 years that it went public with an initial public offering, and it was the first hedge fund to accomplish this goal. After another 10 years had passed, SoftBank purchased the group, and the company spent 2018 integrating $40 billion in assets into SoftBank’s global strategies.

SoftBank is a company that finances and supports the information revolution. It is the owner of Sprint and has interests in Alibaba, Uber and several other innovative firms. The company currently controls the Vision Fund. This fund finances innovative technologies and is being supported by Qualcomm and Apple. The innovative technologies include robotics, the Internet of Things and artificial intelligence, but they are only at their beginning stages.

Along with innovative technologies, SoftBank is also involved in high-tech innovation, and this includes the power project that is known to be the largest in the world in Saudi Arabia.

The fund’s CEO made his vision very clear in a statement on CNBC last year. Rajeeve Misra said at that time that the fund aims to invest in 100 technology companies that exist around the world, and he hopes that his company will be the largest shareholder. He has big plans to become the “…biggest ecosystem of tech companies in the world.”

Misra was employed by Fortress Investment Group before he moved on to SoftBank. He was the head of strategic finance until 2014 when SoftBank hired him to be at the helm of the Vision Fund.

SoftBank’s purchase of Fortress Investment Group was the first step toward bringing an asset management group into its possession. Fortress Investment Group will continue to be in charge of its daily operations, but a SoftBank representative will be on the Fortress board without having any control over the company’s daily operations.

Over the past year, both companies have been able to adapt to the purchase, and they continue to operate successfully as they have in the past. They will remain two separate enterprises, but they will also work together to move into the private equity arena.

A Force of Innovation: Two Decades of Fortress Investment Group

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