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Fortress Investment Group, Mubadala sign deal with SoftBank
Fortress Investment Group and Mubadala Investment Company have signed agreements to acquire 90.01 percent of Fortress’s equity currently held by SoftBank Group, a Japanese multinational investment holding company headquartered in Tokyo. Financial terms were not disclosed.
SoftBank Group has owned Fortress since 2017. Following the transaction, Mubadala Capital’s shareholding in the company will increase from the current 9.99 percent stake to 70 percent, and Fortress management is expected to own a 30 percent equity interest in the company. Management will also hold a class of equity, entitling it to appoint a majority of seats on the board. After the closing, Fortress will continue to operate as an independent investment manager under the Fortress brand, with full autonomy over investment processes and decision making, personnel and operations.
According to its website, Fortress manages three publicly traded permanent capital vehicles: FTAI Aviation, which owns and