Fortress Investment Group is a global asset manager with fingers in a wide variety of pies. The company is no stranger to headlines and it surprises many with its range of affiliates. One of the most astonishing examples of this hearkens back to the 2010 Winter Olympics. Fortress Investment Group nearly halted the entire event due to some disputes with Canadian authorities. No one realized that the asset manager happened to own the ski resort the alpine section of the games was to be located at. Real estate has always been a popular investment for the company as well as advancing technologies. This is why a lot of recent eyebrows are being raised at some of Fortress’s most recent activity.
First off, Fortress made a lot of headlines over the past year due to its acquisition by Japanese conglomerate Softbank. The hedge fund that spends so much time merging and acquiring other companies was bought itself for a whopping $3.3 billion dollars. The purchase was Softbank’s move to acquire its first asset manager. As per the deal Fortress Investment Group gets to operate independently with a representative of Softbank now sitting at the big table. So business as usual for the most part. Softbank will also gain access to Fortress’s wide list of affiliates which it can use for its own ends. The two seem to be linked in their ongoing goals so the current inroads into private equity are mutual.
Since its acquisition Fortress Investment Group has been rather busy. It purchased the iconic Worth Ave. building in Palm Beach that houses Tiffany and Co., and purchased the huge SuperValu distribution center in Pompano Beach. Combined with its ongoing investments in the Virgin Trains passenger rail from Miami to West Palm Beach many wonder what plans Fortress has for Florida. It has also made its presence known in New York with a massive mega-development called TSX Broadway. the $2.5 billion dollar real estate project is an innovative hybrid that merges top-level retail space, with five-star hotel accommodations, find dining, and quality entertainment all in one building. Most recently Fortress bought into the acquisition of Vivint Smart Homes by Mosaic alongside Softbank. The purchase gives both companies access to smart home products which also raises some eyebrows. Only time will tell if these recent moves are part of something much bigger.
Search more about Fortress Investment Group: http://careers.fortress.com/