Fortress Investment Group and Mubadala Investment Co., through its wholly owned asset management subsidiary Mubadala Capital, have announced that they have completed the previously announced acquisition of the 90.01 percent of the equity of Fortress that was held by SoftBank Group Corp. Terms of the deal were not disclosed.
With the close of the transaction, Fortress management now owns a 32 percent equity interest in the company in a class of equity entitling Fortress management to appoint a majority of seats on the board. Fortress co-CEOs Drew McKnight and Josh Pack, managing partner Jack Neumark, and co-chairman Pete Briger are the largest individual investors in the buy-out and were joined by approximately 150 members of the firm.
A consortium led by Mubadala Capital now owns 68 percent of Fortress equity. Mubadala Capital’s CEO and managing director, Hani Barhoush, who has served on Fortress’ board since 2019, continues to serve on the board.
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