Abu Dhabi Sovereign Wealth Fund Mubadala in Talks to Buy Fortress From SoftBank - Bloomberg
Mubadala Investment Co. is in talks to acquire asset manager Fortress Investment Group from Japanese conglomerate SoftBank Group Corp., people with knowledge of the matter said.
The Abu Dhabi sovereign wealth fund is discussing a deal that would value Fortress at more than $1 billion, one of the people said, asking not to be identified because the information is private. Mubadala has long been a SoftBank counterpart, and in 2017 said it would be among anchor investors in the firm’s debut Vision Fund.
While discussions with Mubadala are at an advanced stage, there’s no certainty they will reach an agreement and other potential buyers could emerge, the people said. Bloomberg News reported in November that SoftBank, which is led by billionaire Masayoshi Son, was exploring options for Fortress including a potential sale.
Representatives for Mubadala, SoftBank and Fortress declined to comment.
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