Fortress Investment Group was founded in 1998 in New York. And since then, the private equity company has been regarded as a dominant player in the industry. The company has over 1,750 customers globally and has a profile of $41.5 billion worth of assets under its management. To assist its clientele in achieving its investment objectives, the company hires over 900 experts with diverse backgrounds and business expertise.
For the New York group, its owners, and investors, 2019 was a year of steady growth and massive investment activity. Below are some of the transactions which have been an addition to the company’s narrative.
Ascending to the role of Japan’s largest private rental property owner
With the purchase of more than 100,000 housing units from the government in 2017, Fortress became the biggest owner of rental apartments in Japan. Currently, the occupancy rates in the housing properties had risen to almost 60%, roughly twice what they were when they were purchased. With a vision for future development and long-term progress, the firm has set aside $500 million for upgrades and renovation.
Revolutionizing the news industry
Fortress Investment Group investors approved of a merger with New Media in 2019. New Media is under Fortress, and another news firm, Gannett Co., Inc. Its CEO Michael Reed said that the partnership would have many advantages to the readers and local markets.
Acquisition of Vannin Capital
With the purchase of 100 percent of Vannin Capital’s assets, Fortress Investment Group acquired the global litigation financier. Even though the details were not disclosed, its founder said that the transaction with Fortress was favored because of the relationship between the two companies.
Owning Majestic Wines
Fortress Investment Group also acquired giant UK retailer Majestic Wines as the company was almost going under. It looks to bring the brand back to sustainable success by changing its operations and boosting its public presence.
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