Mubadala in talks to buy asset manager Fortress from SoftBank - source

July 12 (Reuters) - Abu Dhabi's Mubadala Investment Co (MUDEV.UL) is in talks to acquire asset manager Fortress Investment Group from Japan's SoftBank Group Corp (9984.T), a source familiar with the matter told Reuters on Tuesday.

The Abu Dhabi sovereign wealth fund is discussing a deal that would value Fortress at more than $1 billion, said Bloomberg News, which first reported the talks. (

SoftBank acquired Fortress in 2017 for $3.3 billion.

Mubadala declined to comment, while Fortress and SoftBank Group did not immediately respond to Reuters requests for comment.

Founded in 1998, Fortress had $53 billion in assets under management as of March 31, on behalf of more than 1,900 institutional clients and private investors, according to the company website.

Reporting by Arunima Kumar in Bengaluru and Saeed Azhar in New York; Editing by Devika Syamnath

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