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Bond Market News
SoftBank Nears Sale of Fortress Investment to Mubadala at $2bn Valuation
September 7, 2022
SoftBank is on track to complete a deal to sell its Fortress Investment stake to Mubadala at more than $2bn valuation. As per sources Rajeev Misra, the key person at SoftBank Investment Advisers and formerly a partner at Fortress, is coordinating the deal with a likely agreement to be announced over the coming weeks. SoftBank bought Fortress in 2017, aiming to utilize the US-based investment management firm’s specialties to help manage its Vision Fund. As of December 2021, Fortress had and AUM of $53.3bn.
SoftBank ’s USD 6.875% Perp traded lower by 0.42 points to 88.38, yielding 9.94%.
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