Times Square Meets Fortress Investment Group: Another Strategic Move By Fortress Investment Group

Home / Times Square Meets Fortress Investment Group: Another Strategic Move By Fortress Investment Group

Times Square is a place where people all across the world envision to visit one day. The lofty towers to the razzle and dazzle that is a constant sight in the daytime. These are all features of times square that has made this the place to be. Who can forget about the ushering in of the New Year? Times Square is a place of wonder and a place that Fortress Investment Group has made their presence known at as well.

Being able to add to the luster of Times Square is something that only a group like Fortress Investment could pull off. By teaming up with other groups to purchase the famous Palace Theater, this has made Fortress a prime player in Times Square. This is not the only piece of the prime real estate that Fortress has purchased in Times Square. Fortress Investment group purchased the existing hotel that houses the Palace theater as well. This deal was completed by partnering with Maefield Development. These are the type of deals that have given Fortress Investment group a history of success.

As being a creator of credit to private and institutional clients around the world, Fortress Investment group was purchased in 2017 for $3.3 billion to Japan’s Softbank. Although this sale took place, the headquarters are still in the United States, more specifically, New York. Managing more than $70 billion in assets today, this group has a global brand in place that is sure to stand the test of time. When Fortress went public in 2007, there were two industry giants that handled the underwriting at that time. Goldman Sachs and Lehman Brothers were the underwriters. This was the first private equity fund that was publicly traded in the United States. Many awards for the excellence and passion of this group would soon follow. In 2014, the award for the Hedge Fund Manager of the Year was given to the Group. The Management Firm of the Year award was given as well. This was not the only time recognition has been given to Fortress.

Randal Nardone, Wesley Adams, and Rob Kauffman started Fortress Investment Group in 1998. As the company expanded into more and more hedge funds, it was only natural for the group to reach out and become publicly traded. This was the beginning of a successful journey into global investment opportunities for Fortress. A journey that is for all to behold.

To learn more:https://chronicleweek.com/2018/08/acquisition-fortress-investment-group-softbank/

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