When an investment corporation raises capital for a direct lending fund it allows for that corporation have more money managers, more clientele, more partners, more assets, and more banks to operate with regulating funds and opening up a pool of possible investors that are looking to find lending strategies that will help them raise more capital. Fortress Investment Group has just recently been purchased by Softbank Group Corporation for approximately 3.3 billion dollars. and with this company that are many assets and IPO or initial public offering, Fortress Investment Group now has the supplemented finances and credibility to make bigger pushes and bigger moves with their investment ventures.Fortress is setting off to make a large push into corporate lending and is currently time raising money for their first fund now as a part of the ownership of Softbank Group Corp which again is a direct lending fund.
This will allow them to work with not just investors, but large companies as well and some that they’re looking to expand into managing are Ares Management LP, Tennenbaum Capital Partners LLC, HPS Investment Partners LLC and are continually looking for other areas to directly invest as well. Fortress Investment Group promoted Drew McKnight and Josh Pack to help manage different areas of the organization such as becoming managing partners over its credit group and working class closely with the firm’s credit head and co-CEO Pete Briger as they joined both the management committee and the group’s investment committee as they have their as they had their first senior executive Joel Holsinger leave the firm post the sale to Softbank Group Corp as he believes in the ability and the teamwork there will come from the work and management of Pack and McKnight.
The direct lending fund is not the only new fund that Fortress Investment Group is seeking to apply to their portfolio, however, they also have other funds such as the special opportunities fund and also the flagship credit opportunities fund and both of these Softbank is reaching extremely high approximately 5 billion dollars specifically for the flagship credit opportunities fund. For this New York based private equity firm they have continued to grow and escalate greatly in their business propositions and credibility in the investment realm. Fortress Investment Group is definitely a firm that will continue to be taken seriously as they grow more influence and power in the investment world.