The Fortress Group was founded in 1998. It has since made a highly prominent name, becoming one of the leading companies of its kind in the world. Interestingly, the company started as a well-coordinated hedge fund and later prospered to become a leading global investor and financier. It became the first company of its stature to float an initial public offering. This was done in no less a platform than the New York Stock Exchange.
As noted, the Fortress Investment Group experienced a whirlwind year in 2018. This was a year of significant expansion and transition. It led to the company’s fortunes taking a huge stride. Fortress Group integrated with others to grow into one of the most prominent conglomerates known in the world. Subsequently, it became known as the Softbank Group Corporation. The Investment Group’s interests mainly lie in private equity funds and real estate. In 2018, the company was purchased for a whopping $3.3 million.
For the Fortress Investment Group to become part of the SoftBank was a significant development. SoftBank is a company that is dedicated to financing the information revolution. It has a substantial stake in Sprint, a US telecom giant. It also has significant stakes in Uber, Alibaba and other leaders of the new economy.
SoftBank deals with such modern high-tech fields like robotics, the Internet of Things, artificial intelligence, and renewable energy. Especially in 2018, the Fortress Investment Group began dealing with some large-scale projects that are involved with building the infrastructure of the high-tech-innovation technology. Interestingly, it recently participated in developing the world’s most extensive solar power infrastructure located in Saudi Arabia.
After integration with SoftBank, both companies have gradually adapted to the new relationship and soldiered on to realize significant success in the past year. For instance, the Fortress Investment Group has built a good portfolio in senior housing, real estate, and investments of an infrastructure nature. In 2018 the Fortress Investment Group announced the high profile TSX Broadway development project. It was a dream project valued at $2.5 million. Interestingly, significant leaders in the tech field have expressed interest in supporting this project. These giants include Samsung, Facebook, Amazon, Walmart, and Disney.
The TSX Broadway project will incorporate 75,000 square feet retail, a 46-floor luxury hotel, an 18000 square feet wrap-around LED screen and a complete overhaul of the historic Palace Theatre.
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