SoftBank’s acquisition history leading to Fortress Investment Group

SoftBank Group Corporation (SBG) is on track to becoming the world’s largest technology investment company after the December 2017 acquisition of Fortress Investment Group LLC. SoftBank Group Corporation had relatively humble beginnings back in September 1981. Back in 1981 SoftBank Group Corporation was known as SOFTBANK Corp and focused on the distribution of software. The next year, in 1982, SOFTBANK Corp began selling monthly magazines about new personal computers and software. In July 1992, SOFTBANK Corp changed their name to SoftBank Group Corporation (SBG). SBG founded SoftBankHoldings Inc, which focused on the technology related investment opportunities pertaining to the internet in the United States. In December of 1994 SBG bought the Events division from Ziff Communications, with the subsidiary SoftBank Holdings Inc. SBG partnered with Yahoo! to establish Yahoo Japan Corporation in January 1996, that same year SBG became the primary share holder of Yahoo Inc.

By 1998 SBG founded SoftBank America Inc, that same year Wes Edens, Rob Kauffman, and Randal Nardone established Fortress Investment Group LLC, an investment management company. Fortress Investment Group LLC from early on focused on hedge funds, securities and real estate investments. In 2007, on February 9th, Fortress Investment Group LLC became the large hedge fund company to ever be listed on the New York Stock Exchange. Fortress Investment Group has acquired a highly diversified portfolio of investments over their history. Discretionary Macro Focused Hedge Fund of the Year in 2012 and Credit Focused Fund of the Year in 2010 and 2011, Fortress Investment Group LLC was also Hedge Fund of the Year in 2014. The Principals of Fortress Investment Group have an impressive background in finance, they all drew upon to lead the company to where it is today. After graduating in 1984, from Orgeon State University with a BS in Finance and Business Administration. Mr. Edens was the driving force behind Fortress Investment Group LLC buying Springleaf Financial Services, formally AIG (American General Finance).

Wes Eden in 2010 was called the King of subprime lending, by The Wall Street Journal. The move to acquire Springleaf Financial Services proved to be a great investment in 2010 for $ 124 million, by 2015 Springleaf was worth over $ 3 billion.Rand Alan Nordone attended the Boston University of School of Law, where he received a J.D. Randy Alan Nordone, sometimes called Rand JD, was also a double major receiving his Bachelors of Arts in English and Biology from the University of Connecticut. Rand Alan Nordone is the Chief Operating Officer of Fortress Investment Group LLC and Chairman of Springleaf Financial Holdings.Peter Briger attended Princeton University, before co-founding Fortress Investment Group and later founded Fortress Credit Corporation. Mr. Briger also attended the University of Pennsylvania’s Wharton School of Business and earned an MBA.SoftBank’s acquisition of Fortress Investment Group LLC, made it the first common stock to be delisted from the New York Stock Exchange. This acquisition give Fortress the freedom to make long term investment and reap the benefits of the freedom to allow investment to mature over a longer period of time.

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