In January of 2018, Fortress Investment Group was acquired by the SoftBank Group Corp. This was a significant milestone for the group as shareholders had already approved the 3.3-billion-dollar acquisition in July of 2017. This was a move that would help the group continue with its ambitious investment strategy as well as its growth in the Asian Market. The group managing over seventy billion dollars in assets has been doing quite okay under the leadership of Peter Briger the Co-Chairman, Principal, and Co-CEO. After joining the group in 2002, he would help grow the group aggressively while serving in different capacities. Peter came on board with quite an extensive portfolio having already been a partner at Goldman Sachs. He would lead them through their initial public offering in 2007 at a time when they had just experienced phenomenal growth seeing assets under management grow from 30 billion to seventy in less than six years.
The IPO listing would see the co-founders become billionaires even appearing on the Forbes billionaires list. This was a vote of confidence in them and their investment strategy that had begun in 1998 when they brought together assets worth approximately 400 million dollars and began Fortress Investment Group. The phenomenal growth over the first five years saw their return stand at 39 percent in private equity, which was among the highest at the time. This was a return buoyed by the diverse industries that they had turned to when making investments. One of the areas that Fortress has really become aggressive in has been the private rail industry. They acquired Brightline which runs various private passenger trains in America.
Brightline recently opened the Miami – Fort Lauderdale route which cuts travel time to approximately thirty-five minutes from the previous 2 hours on the highway during rush hour. This route has been able to have quite a flexible schedule with trains running the route from 7 am to 11 pm. The fortress investment group will continue to enjoy its independence even after the acquisition by Softbank, which means that Peter Briger and his group will continue to guide the investment strategies of the group. This is a vote of Confidence for the leadership team, and as such, they have promised to invest back half of their earnings to the group. As part of the bigger picture the Fortress investment Group hopes to continue its expansion in the Asian market.