Fortress Investment Group is one of the leading investment firms in the United States of America. Since its inception, the company has scaled its operation and opened branches in other parts of the world. In a recent press release, Fortress Investment has moved to acquire a stake in the Colony Capital.
According to the acquisition agreement, the company, through its affiliate, will become the General Manager and Partner to some of the major Colony Capital investment funds and non-digital real estate sector, which comprises over 2.7 billion dollars in assets.
This is a significant boost for Fortress Investment as it will make inroads and expand its real estate investment portfolio with the new acquisition. In addition, the purchase of the Colony Capital will see Fortress investment Group get control of over 100 properties in both the United States and Europe, totaling to a tune of over 535 million dollars.
According to Fortress Managing Director Noah Shore, the company is delighted to have signed a win-win agreement with Colony Capital to expand and manage different asset portfolios. He continues by saying that Fortress is a world-class organization recognized globally for its asset acquisition and management. The president of Colony Capital was also happy about the acquisition and said that its partnership with Fortress Investment Group would result in good asset management.
Fortress Investment Group was established in 1998, and it’s based in New York City in the US. The company was founded by Wes Edens and has expanded to an estimated 45 billion of assets under its management. The company has diversified into offering other services like private-style credit-focused funds and hybrid hedge funds. With such success, Fortress Investment is one of the leading employers with over 5ooo staff spread across its offices globally. The company also prides itself in servicing over 1500 clients and institutions worldwide. Go here for more information