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.
