Fortress acquired for $3.3B by Japanese telecom giant

The main attraction of Fortress is believed to be its ability to manage large-scale investments, as its assets under management stood at $70.1 billion as of September 30, 2016.

The latest deal will make SoftBank one of the world's largest alternative asset managers.

Japanese telecom giant SoftBank Group Corp. will buy the publicly-traded company for $8.08 per share - a 39 percent premium - the companies announced.

Fortress principals Pete Briger, Wes Edens and Randy Nardone will continue to run the company within SoftBank, Bloomberg reported.

India's Uttar Pradesh holds 2nd election round, amid row over exit poll
Chief Minister Harish Rawat and his government have been accused of corruption, which may have an impact on the results. The main fight in the Uttar Pradesh is going on between the Samajwadi Party and the BJP.

Gets A Massive Boost; Good News Preceding Release Date
Thankfully, for the time being we have loads of new screenshots from the game courtesy of the March issue of Game Informer . The Thumpin Wumpa Islands level will include Crash Zones that feature the boulder chases from the original PS1 release .

Bride's Missing 150-Year-Old Wedding Dress Finally Found
Ms Newall, who got married in June past year , believed the dress had been taken to be sold by administrators Wylie & Bisset. Facebook commenters agreed, sending well wishes to the new bride when she amended her original post with the good news.

"Fortress's excellent track record speaks for itself, and we look forward to benefitting from its leadership, broad-based expertise and world-class investment platform", said SoftBank's Masayoshi Son said in a press release. New York-listed Fortress manages around $70 billion invested across real estate, credit and private equity. The investment is actually from the SoftBank Vision Fund and was announced in October. This decision was taken so that the two companies could work together on the Japanese technology-driven investment fund. Fortress will operate within SoftBank as an independent business headquartered in NY, and SoftBank is committed to maintaining the leadership, business model, brand, personnel, processes and culture that have supported Fortress's success to date. This move comes in the wake of SoftBank's founder, Masayashi Son, announcing in October 2016, that the bank is joining hands with Saudi Arabia to raise U.S. $100 billion technology fund. The firm has done this by way of publicly traded permanent capital vehicles such as New Senior Investment Group and Fortress Transportation and Infrastructure Investors (FTAI).

"SoftBank is an extraordinary company that has thrived under the visionary leadership of Masayoshi Son", said Fortress Co-Chairmen Pete Briger and Wes Edens in a statement. "We anticipate substantial benefits for our investors and business as a whole".

The group has a self-proclaimed aim of driving the information revolution, and a year ago announced the establishment of a $100bn technology investment fund. The deal, which is subject to shareholder and regulators' approval, is expected to close by the end of the year.

Nizar Al-Bassam and Dalinc Ariburnu, of the investment firm F.A.B.

Related news:

Hot News

WWE WrestleMania 33: 3 Potential 'Replacements' for Randy Orton
Feb 16, 2017 - 00:52
American Alpha retained against Heath Slater and Rhyno, Breezango, the Vaudevillians, the Usos and the Ascension . Bray Wyatt emerged from Elimination Chamber as WWE champion, and he did so in impressive fashion.

isis-killer-beheading-video-story-top Yahoo's Security Incompetence Just Took $250 Million Off Verizon's Asking Price
Feb 16, 2017 - 00:47
The country's largest wireless carrier announced past year it planned to acquire Yahoo's core business for $4.83 billion. However, Yahoo has lagged Alibaba's performance over most of the past year as its transaction with Verizon was held up.

isis-killer-beheading-video-story-top ISRO world record in 104-satellite launches on a single flight
Feb 16, 2017 - 00:44
The highly anticipated mission was closely followed by scientists and space mission enthusiasts in different countries. All US satellites are from the earth observation company Planet , which was formed by former NASA scientists in 2010.

isis-killer-beheading-video-story-top More than 680 arrested in targeted nationwide ICE operations
Feb 16, 2017 - 00:44
Agency officials said ICE does not conduct "sweeps, checkpoint or raids that target aliens indiscriminately". Preliminary reports from southern California give an indication of the scope of the ICE operations.

Smith dreams of unexpected India triumph
Feb 16, 2017 - 00:44
The first match of the four-match rubber will start from February 23 in Pune . Behind them is Josh Hazlewood, who is behind Ashwin by 27 points.

Elon Musk says humans must merge with machines to survive
Feb 16, 2017 - 00:43
He is not alone in his concerns, either. "The most near term impact from a technology standpoint is autonomous vehicle ". They say the move toward these (very powerful) electric vehicles is a key part of their autonomous vehicle strategy.

Homefront: The Revolution is Preparing for a Trip Outside the Walls
Feb 16, 2017 - 00:43
We now know when PS4 Pro support is coming to Rocket League as its release date has finally been announced. It will feature the fan-vote winning item and numerous technical fixes and improvements.

SC wants Shahabuddin shifted from Siwan prison to Tihar jail
Feb 16, 2017 - 00:43
This is quite far from the idea of fair trial. "After God, we have our hopes pinned on the apex court for justice", they said. Both said the accused continued to run a "parallel administration of fear" from the jail in Siwan.

IHC imposes ban on celebrations of Valetine's Day
Feb 16, 2017 - 00:42
According to the court order, Valentine's Day-related festivities have been banned in public and official places. In Pakistan, Valentine's Day is seen by some as amoral and an appropriation of Western culture.

Two Young Girls Fight For Their Lives After Weekend Shootings in Chicago
Feb 15, 2017 - 00:16
Djuan Bowers, an uncle of the 12-year-old victim, said to WLS, "Instead of a gun, pick up a pencil, or a book". A 12-year-old girl was shot in the head while playing with friends in an unrelated shooting the same night.

isis-killer-beheading-video-story-top North Korea releases missile launch footage
Feb 14, 2017 - 00:28
This latest North Korean test would, according to analysts, help South Korea further justify its plans for the new missile shield. Japan's top government spokesman, Yoshihide Suge, said the test was "clearly a provocation to Japan and the region".

MLB Hot Stove Trades: Braves acquire Brandon Phillips in deal with Reds
Feb 13, 2017 - 00:41
He has also revivified his stealing ability in the past two campaigns, stealing 23 bases in 2015 and 14 in 2016. Yes, Phillips used that trade leverage to squeeze the Reds into a very, very uncomfortable position.

Hamburg airport evacuated and 50 treated over 'substance in air'
Feb 13, 2017 - 00:41
As The Washington Post reported, police said there was "no evidence" that this event could be related to a terrorist attack. Air traffic had to be paused because all the on-site emergency services were occupied dealing with the situation.

Duchenne Muscular Dystrophy Treatment Emflaza Approved by FDA
Feb 13, 2017 - 00:37
With the orphan designation, the company is getting seven years of exclusive rights to sell the drug in the U.S. This is the 9th time that the FDA grants the pediatric disease priority voucher.

UFC 208's Derek Brunson on How Christian Faith Impacts Career (Exclusive Interview)
Feb 12, 2017 - 00:03
Given that both her and Holm are known to be strikers, de Randamie said she is hoping they can stand and trade and put on a show. Featherweight title contenders Holly Holm and Germaine de Randamie arrive in Brooklyn and acclimate to the city.