Fortress Investment Group makes a strategic move

Fortress investment group is a leading global firm that deals with managing investment. It mainly specializes in credit, liquid markets, private equity and traditional ways of managing assets. The firm has over 1,500 clients and institutional investors worldwide.

On December 27th 2017, what was thought to be a rumor came to many by surprise when a deal of Fortress investment group acquiring $3.3 billion from soft bank was officially made. This move by Softbank was so that it can benefit from the group’s financial management skills and also help it become a big investment firm which has been one of their goals for long. The deal is however unlikely to change how Fortress investment runs because part of it is that Softbank is to keep off in managing most of Fortress investment group’s assets.

How the two companies came to this decision remains a wonder considering their history. When Masayoshi Son founded Softbank in 1981 it was a PC software wholesale company. In the 90s the company started dealing with publishing computer magazines and computer trade shows. The company started growing very fast after getting control over Yahoo’s interest. It currently is a stake holder of over 400 Internet Companies. Fortress on the other hand was started by CEO Randy Nardone and co-chair Wes Edens in the year 1998. This investment management company, which has its headquarters in New York city, has over 20 years of experience has an approximate of 1,750 clients and private investors.

The $3.3 billion may seem like a lot to invest in but it actually is a worthy venture for soft bank. This is because Fortress has a number of assets in several companies and it also makes good profit with a reported $215 million in 2018. To many, it may seem like Softbank has the upper hand in this deal but it is not the case. This deal will allow Fortress Investment group to once again become private which has been their plan for long. This move will also allow fortress acquire partners around Asia enabling them to grow even more. At the end, the deal is a win win for both companies.

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Here’s How GreenSky Credit Came To Be

More mobile users browse the Internet than ever before. As time marches onwards, more people will swap over from desktop and laptop personal computers to their smartphones to browse social media, look to Google’s world-hottest search engine to look for answers to countless questions, and otherwise peruse the World Wide Web for their wants and needs from the comfort of their handheld devices.

Early adopters of this ongoing upward trend of people using mobile devices to browse the Internet and use companies’ apps have virtually all benefited from such strategies.

GreenSky LLC, best known for its GreenSky Credit lending program, hopped on board to the mobile phone trend of connecting with customers immediately upon its foundation in 2006, the same year Apple released its revolutionary iPhone. Founder and CEO David Zalik has taken over the niche of providing relatively small loans to business and personal investors across the United States of America since entering the field of consumer lending some 12 years ago, having since sent out roughly $12.5 billion in financing to roughly 1.8 million customers. Some of its customer base’s most popular uses for such financing includes the renovation of homes and buildings, the purchase of solar panels to help companies become more green and civic-minded, and the foundation of medical practices across the lower 48, Alaska, and Hawaii.

David Zalik has played a major part in the resounding success of GreenSky Credit and parent company GreenSky LLC. Without CEO Mr. Zalik’s constant hands=on involvement in and shaping of the company and its future directions of action, GreenSky Credit wouldn’t have likely provided customers with just one billion dollar’s worth of financing in the 12 years he has operated the company.

All of GreenSky Credit’s financing is sourced directly from financial institutions that are insured by the federal government and state charters of the respective states each consumer is located in. Rather than coming up with financing itself, GreenSky Credit turns directly to the aforementioned lenders; GreenSky LLC and its popular mobile app simply serve customers without getting their balance sheets loaded down with debt of its own.

https://www.forbes.com/sites/laurengensler/2017/08/08/greensky-billionaire-david-zalik-home-improvement-loans/#4bee93c16876