Posted inBanking & FinanceLatest NewsUAE

Abu Dhabi’s Mubadala close to buying Fortress from Softbank in $2 billion deal

No final decisions have been made, and the deal could still fall apart

Mubadala, Softbank, Fortress
Rajeev Misra, the chief executive officer of SoftBank Investment Advisers. Image: Bloomberg

Abu Dhabi wealth fund Mubadala could be announcing its $2 billion purchase of Fortress Investment Group from SoftBank in the coming weeks, sources told Bloomberg.

Rajeev Misra, the chief executive officer of SoftBank Investment Advisers, is playing a key role in brokering the deal, the sources said, given his close ties to Abu Dhabi and knowledge of Fortress.

No final decisions have been made, and the deal could still fall apart, the report said.

SoftBank acquired the US asset management firm Fortress in 2017 to help manage its Vision Fund.

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Abdul Rawuf

Abdul Rawuf