Since the Fortress Investment Group’s founding in 1998 in New York, it has been acknowledged as a leader in the private equity industry. Fortress Investment Group has established a massive asset portfolio worth $41.5 billion for more than 1,750 customers globally.
The agency has pinpointed about 900 experts with various industry knowledge and experiences to ensure consumers accomplish their investment agendas. 2019 was a unique year full of continued advancement as well as many investment activities for the investors, the firm, and other parties. This piece describes some transactions that leverage Fortress, success in the past years.
News Industry Restructuring
In November 2019, a New Media merger with Fortress Investment Group was voted in by the shareholders. It was decided that Gannett Co., Inc., founded by Frank Gannett was to be managed by Fortress.
However, the Gannett name was retained and began operations on the New York Stock Exchange on 20th November 2019 under GCI. Michael Reed was the new CEO and Chairman of New Media claimed that the merger brought to life the best performing digital and print news organization with both local and national roots and scale respectively.
Michael Reed believes that the merger is expected to sustain formidable local journalism operations in many markets across the nation and enhance quality services to all businesses. Paul Bascobert is the Gannett CEO who shares Reed’s zeal of highlighting the ventures’ future commitment to the community and the goals of establishing a formidable model that leverages local journalism.
Becoming Japan’s Biggest Private Rental Property Owner
In 2017, Fortress acquired about 100,000 housing units in Japan from the government to become the largest rental apartment owner in the country. After many years of new building construction with several amenities, the apartments obtained by Fortress have experienced a drastic occupancy decrease. Fortress Investment Group had an aggressive strategy to position properties that suit the contemporary housing demands in Japan.