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. (https://bloom.bg/3Ivtdhg)
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.
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