Banking & Finance Mubadala in talks to buy asset manager Fortress from SoftBank By Reuters July 13, 2022, 5:38 AM Creative Commons SoftBank acquired Fortress in 2017 for $3.3 billion Abu Dhabi’s Mubadala Investment Co is in talks to acquire asset manager Fortress Investment Group from Japan’s SoftBank Group Corp, a source familiar with the matter told Reuters on Tuesday. The Abu Dhabi sovereign wealth fund is discussing a deal that would value Fortress at more than $1 billion, said Bloomberg News, which first reported the talks. SoftBank acquired Fortress in 2017 for $3.3 billion. Mubadala declined to comment, while Fortress and SoftBank Group did not immediately respond to Reuters requests for comment. Founded in 1998, Fortress had $53 billion in assets under management as of March 31, on behalf of more than 1,900 institutional clients and private investors, according to the company website. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
