Softbank is a company that is driven by the development of the information age. Softbank is most popular for having major stakes in one of US’s major telecommunications companies, Sprint. Softbank also owns major stakes in companies like Uber and Alibaba. Softbank owns the Vision Fund as well, which has financial support coming from Qualcomm and Apple. Vision Fund is an organizational effort from Softbank that is dedicated to funding an innovative technologies. Even though Softbank has acquired Fortress, Fortress still operates under its own independence and discretion. Softbank is not allowed to influence the work of Fortress as per their transaction deal.
Although this is the case, the Fortress Investment Group and Softbank has vowed to help each other in further developing their causes and to use their resources to solidify their new business strategies even more. The acquisition of Fortress by Softbank has elevated Softbank into the world-tier. Fortress has opened up high-class financial management for Softbank which serves as a big stepping stone in Softbank’s venture into the private equity business. Recently, Fortress has closed down on a deal for the acquisition of the iconic Tiffany and Co. building. The Tiffany and Co. building is a 16,000 plus square foot property, offers 11,000 square feet for retail, and is over 60 years old. Fortress Investment Group was able to close the deal with the help of Kean Development and Hyde Retail Partners.
The current retail tenants on the site are expected to remain untouched, but they plan to build more high-class office space on the second floor of the building. The Tiffany and Co. building is an architectural wonder and is one of the world’s most popular retail shopping destinations. One reason that the Fortress Investment Group is such a successful company is that it does not charge an outrageously high amount for its services. A lot of global investment companies charge very high for their standard service – Wes Edens does not believe in that kind of business. Fortress Investment Group charges a standard, flat rate for their consultations and this model gives their clients to save money on quality advisory services. Wes Edens still considers to be working with Fortress in the future.