One eventful phone call between old co-workers has led to the multi-billion dollar sale of Fortress Investment Group. The company was completed by SoftBank Group, a massive technology company. SoftBank makes this bold move to place itself amongst the biggest investment companies in the world.
The two people on that eventful call were Pete Briger, co-Chairman of Fortress Investment Group, and Rajeev Misra, who has worked at Fortress until moving to SoftBank in 2014. The markets had been undervaluing Fortress of late, and the leadership decided they needed to go private.
Fortress Investment Group had been founded in 1998 by Wesley Edens, Randal Nardone and Rob Kauffman. Initially focusing on hedge funds, the company diversified and experienced exponential growth. That growth led to the management of over $41 billion of assets and over 1,750 clients.
SoftBank Group is led by Masayoshi Son, a well-known Japanese businessman. He has a reputation for being bold and moving quickly, and that held true in this case. SoftBank purchased Fortress Investment Group for $3.3 billion. True to form, this move was a surprise for those with eyes on the business world.
Recent history shows that SoftBank is not afraid to shake up the business world. A couple years ago they gained control of Sprint Corp., the well-known U.S. mobile company. In the months before the sale of Fortress the company also purchased ARM Holdings PLC, a U.K. company which designs microprocessors, for $32 billion.
Class A stockholders at Fortress received $8.08 a share, a whole 39% above the value of the stock at the time of sale. The price of the stock experienced a surge in the 24 hours following the news of the sale.
SoftBank is making these moves to build a $100 billion investment fund to cement a role in the forefront of upcoming technologies such as artificial intelligence.
Glen Wakeman is the CEO LaunchPad Holdings LLC and also the founder. Glen is also a writer and through his insightful blog posts, he has at a great extent inspired many practitioners and entrepreneurs to venture into diverse businesses. Glen mostly writes on management and administration, strategy, international fiscal matters and emerging markets. He writes basically to educate the readers on innovation, growth and development to enable them remain competitive in the business world.
In 1981, Glen Wake man graduated with a bachelor’s degree in Economics and Finance from University of Scranton which is in Pennsylvania. He furthered his education by pursuing a master’s in Business administration at the University of Chicago. The LaunchPad holdings LLC Company aims at young entrepreneurs and help them convert the business ideas they have into plans that will finally yield fruits.
Throughout his career, Glen Wakeman has lived in 6 nations and has worked in thirty two different countries. Glen once had an exclusive interview with Ideamensch where he said that what he likes most is matching ideas with money. Glen claims that most people think that having an idea and planning are the same but that is not the case.
To bring his ideas to life, Glen always starts by explaining them to those around him. That step helps him think through the idea while getting a general outline. From the discussions with those around him he is able to defend his idea and then he can now work to bring it to life. Glen attributes his continuous productivity to his high curiosity which makes him even more innovative on how he can satisfy his different clients.
In an interview Glen revealed that a typical day in his life usually starts by him reviewing the numbers from the previous day including the cash total, sales and performance. After that he can set up a meeting with his other workmates where they divide the duties for the day before he can begin working. At the end of the day he enjoys a cup of tea or coffee or even a margarita depending on the day he has had.
Anil Chaturvedi is a prominent name in the banking and investment sector. More so, he is an inspiration in the corporate and private banking field. Chaturvedi stands out among many bankers that you will come across in this sector. He is a reputed banker with vast experience and leadership skills in international banking world. Mr. Chaturvedi specializes in investment, corporate and private banking and he is also a magnate in corporate advisory business.
To be a leader and a source of inspiration in certain area of specialty, you have to hold incomparable skills and a well-decorated education background. Anil Chaturvedi has exceptional qualifications that give him an upper hand among other bankers in the world. He is a graduate of Meerut University in India. He received his Bachelor of Arts degree in Economics in 1971. He later received his M.B.A in 1973 after attending the Delhi School of Economics.
Anil Chaturvedi has enjoyed a prestigious career in the real estate investment and banking world. He held the position of a branch manager at the State Bank of India. He was also the managing director of Merrill Lynch a wealth management business from 1993 to 2011. An irresistible opportunity presented itself when he was appointed as the Country Head for the ANZ Grindlays Bank in New York City. Today, he is the managing director for Hinduja Bank in Switzerland and the bank has enjoyed an exceptional growth since his appointment.
International Banking Influence
Banker Anil Chaturvedi has been a great inspiration especially when it comes to cross border investments and transactions between India and Europe. He has influenced the way many investors perceive international banking. He has been responsible for and accredited for developing corporate advisory business in Europe and Asia. Through his competency, there are many corporates in USA, Asia, Europe and India enjoying incredible cross border strategic pacts. This has led to a surge in acquisitions, mergers, credit control, restructuring of distressed investments and capital increase amongst international organizations and investors.
At Hinduja bank, Anil Chaturvedi has helped develop the banking institution’s networks in Switzerland. The bank has international presence in London, Paris, Dubai, Mauritius and New York City. Thanks to the influence, skills and leadership qualities of Mr. Chaturvedi, many global investors are informed about wealth management, corporate finance and trade finance services.