An investment firm with a major stake in Nationstar Mortgage LLC has been acquired by a Japanese firm with investments in giant global organizations.
Tokyo-based SoftBank Group Corp. announced that it has completed the acquisition of Fortress Investment Group LLC.
New York-based Fortress
will operate within SoftBank as an independent business and remain headquartered in New York, the statement said.
The deal was done for
$3.3 billion in cash.
Fortress, which has a major stake in Nationstar, will continue to be run by
its principals Pete Briger, Wes Edens and Randy Nardone.
SoftBank reports stakes in around 80 firms around the world including Alibaba
Group Holding Limited, Foxconn Ventures Pte. Ltd and Renren Inc. as well as Sprint Corp.