2017 marked a decade since the Fortress Investment Group broke the mold of the financial markets by becoming the first hedge fund to be listed on the stock exchange. The end of this successful decade was highlighted by the decision to delist the hedge fund and sell the stock to the Japanese SoftBank corporation. The year following the sale of the Fortress Investment Group has been described by expert Wes Edens as the best in the history of the company because of the backing of the Japanese banking giant.
The purchase of the Fortress Investment Group has not been completed without a definite plan in mind which has been masterminded by the executives at SoftBank. According to various sources, there is no plan to bring the Fortress hedge fund into the SoftBank fold in any formal way but a partnership is being formed with the SoftBank Vision Fund. The overall aim of SoftBank is to build a partnership between its two hedge fund entities capable of rivaling the major players in the investment industry. By building a larger hedge fund empire, SoftBank believes building the Fortress Investment group brand will give it a stronger foothold in the U.S.
COmbining the work of the Vision Fund and that of Fortress has seen a combination of the interests of the two groups. Fortress is leading a move into high-end real estate assets with the impressive TSX Broadway building which incorporates tech startups and the development of the communications revolution. Underlining the power and cost of the TSX Broadway development is the fact it has a projected cost of over $2.5 billion as the construction includes a range of different technology options. Even though the Fortress Investment Group has backed the construction prior to ground being broken, a range of technology giants is already looking to move into the building. Among those who are rumored to have discussed moving into the TSX broadway site with Fortress are Amazon, Samsung, Facebook, and YouTube.
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