As the world of business and finance become more global and interwoven, the New York based Fortress Investment Group is one of many investment management groups who have emerged to take advantage of this growing trend.
Originally founded as an equity firm in 1998, it took little for the firm to expand into other financial arenas such as real-estate, securities and hedge funds. Business was not limited to New York, for in the years that followed the firm expanded its operations to a global scale.
In a recent article by CNBC, it was revealed that Britain’s Morrisons has agreed to a takeover by FIG for around $8.7 billion, which was backed by Koch Real Estate Investments. Although the deal was a lucrative one, it still represented less per share than Morrisons had initially hoped for, indicating the Fortress Investment Group is also quite savvy in negotiations, and there remains some concern that other global groups such as Amazon might enter the fray with their own bids.
This will require Fortress Investment Group to remain vigilant on this particular deal. As for Morrison, recent statements indicate that the food chain producer and supplier prefers Fortress Investment Group as its overseer, as FIG’s business practices and plans for the company are in keeping with Morrisons’ original business ideal.
This example is only one of many that Fortress Investment Group has conducted in the decades since its founding. As of March, the corporation has reported $53 billion in assets under its management and prides itself in being “good stewards” of the holdings they manage and represent.Refer to this article to learn more