The shareholders of US-listed investment firm Fortress Investment Group agreed yesterday to a $3.3bn acquisition by telecommunications and internet group SoftBank.
Fortress manages a portfolio of $70.2bn in assets that span private equity, traditional and alternative asset management for more than 1,800 institutional and private clients.
The firm also oversees a selection of venture capital stakes, most prominently in Lyft, the ride hailing company that was worth $7.5bn as of April this year, Fortress having invested in its 2015 series D round.
Other VC-backed companies in which Fortress is an investor include bitcoin wallet developer Xapo, connected video technology developer SmartVue and personal cloud storage service TriPlay.