Fortress Investment Group is a renowned investment group which has a global presence in many investment niches. According to a recently released report, the company features an asset base of over 3.6 billion dollars. The business model used by Fortress gives the company some mileage over its competitors in every venture. For example, the company has won over 1750 organization trusts and now it is managing their assets.Additionally, the firm can manage properties for individuals and private clients. The company ventures in a wide range of investment sectors. These segments include private equity, real estate, and credit.
The Acquisition of Fortress Investment Group by Softbank
SoftBank Group announced that it has finally completed the acquisition of the incredible Fortress Group as they had planned. The financial company has been able to pay 3.3 billion dollars for its new outlet. It is now official that SoftBank now owns Fortress shares.SoftBank Group stated that they had fulfilled all the required statutory elements for the accomplished acquisition. The management also added that the Fortress shareholders have so far approved the ownership changes. However, the fortress is expected to operate as an independent company but under SoftBank Group umbrella. Softbank management also says that this move marks a significant achievement in the investment segment strategy.
Winter Olympic 2010
Fortress almost brought the 2010 winter Olympic to a halt. That followed their demands regarding payments from the owed Canadian authorities to be paid before anything could proceed. That made the company appears in headlines for some time before the games started. Many Canada residents were shocked by how the American company would be involved in Canadian events such that it threated to halt the progress of the games.However, the fact is that Fortress Investment Group was the company that owned the British Columbia Ski resort which was to be used by the Olympic organizers for all the Alpine events that year. Fortress Group stated that the authorities for the games were supposed to pay 90 million dollars; failure to the company would stop the games and sue the organizers.
The Plan by Fortress
Fortress Investment Group said that the authorities at Ottawa had agreed to settle the debt before the commencement of the games something that they failed to do. The saga also features Whistler Blackcomb resort which is run by Intrawest. The company owes Fortress since Fortress bailed out. The total amount that Intrawest should pay to Fortress is 500 million dollars.