Top international law firms including A&O Shearman, Kirkland & Ellis, Akin Gump Strauss Hauer & Feld, and Skadden, Arps, Slate, Meagher & Flom have provided legal advice to a consortium from the UAE, spearheaded by the sovereign wealth fund, Mubadala Investment Company, on the acquisition of Fortress Investment Group. Fortress, a major investment management firm based in New York, has been bought out by the UAE consortium through Mubadala Capital, a subsidiary of Mubadala Investment Company, and the management of Fortress itself.
The deal saw the consortium acquire 90.01% of Fortress, previously held by Japan’s SoftBank Group Corp. Following the transaction, Fortress management now holds a 32% equity interest, which allows them the right to appoint a majority of the board members.
For further details about this acquisition, please visit the original news coverage here.