Now that SoftBank has completed their acquisition of Fortress Investment Group, a number of questions have arisen. Some are wondering if the company will maintain the same sort of organizational structure that clients have become accustomed to. Others believe that SoftBank will force out many of the major executives. In reality, the principals at Fortress Investment Group are going to remain closely involved. Pete Briger and Randy Nardone will continue to lead the company into the future. Briger is a graduate of Princeton University who has spent over two decades working in the world of asset management.He has also spent a great deal of time working with Goldman Sachs and this places him in a unique position to assist Fortress Investment Group in the wake of this latest news. As for Randy Nardone? He is equipped with the knowledge that can only be obtained by someone who has spent years working with various holdings groups and investment companies.Nardone received his education from the University of Connecticut and the School of Law at Boston University.
SoftBank is not looking to drastically change the manner in which this company runs. They are merely looking to provide their resources so that they can continue to serve as a driver for the impending Information Revolution.With the deep pockets of owner Masayoshi Son at their disposal, the sky is most certainly the limit. The Fortress Investment Group is going to continue to operate in the manner that their clients have become accustomed to. The only difference is that they are now going to operate within SoftBank itself.It is an honor and a privilege for Fortress Investment Group to join the SoftBank team. With their many holdings (which include various telecommunications companies) and their eye towards the future, this is a partnership that should produce great dividends over both the short term as well as the long haul.As for Fortress Investment Group? They became an attractive partner to SoftBank because of their diversified approach to investment.
Their ability to assist clients from a number of different sectors is one of the main reasons why Son wished to close the deal so quickly. Fortress works with companies from all over the world, including private equity firms and permanent capital firms. While the company’s common stock is no longer going to be listed on the New York Stock Exchange, all of the outstanding shares from Class A were converted as a result of the merger between Fortress and SoftBank.Shareholders were given the right to receive $8.08 in cash for each share that they possessed at the time when the merger took place. The proceedings generated by these stocks are being distributed in accordance with the previous Merger Agreement that was drawn up by Fortress Investment Group.The results of these financial consolidations will be reflected once the first fiscal quarter has been completed and all of the necessary information has been gathered. For their part, SoftBank aims to keep the culture that has allowed Fortress to thrive intact.