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FORTRESS MANAGEMENT AND MUBADALA COMPLETE ACQUISITION OF FORTRESS INVESTMENT
GROUP

The transaction builds on an already successful partnership between the two
organizations and better positions Fortress to capitalize on opportunities in
the global credit markets to further establish itself as a leader in the
alternative asset management space

May 15, 2024 08:00 AM Eastern Daylight Time

NEW YORK & DALLAS & ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Fortress
Investment Group (“Fortress”) and Mubadala Investment Company (“Mubadala”),
through its wholly owned asset management subsidiary Mubadala Capital (“Mubadala
Capital”), today announced that they have completed the previously announced
acquisition of the 90.01% of the equity of Fortress that was held by SoftBank
Group Corp. (“SoftBank”). Terms of the deal were not disclosed.

With the close of the transaction, Fortress management now owns a 32% equity
interest in the company in a class of equity entitling Fortress management to
appoint a majority of seats on the board. Fortress co-CEOs Drew McKnight and
Josh Pack, Managing Partner Jack Neumark, and co-Chairman Pete Briger are the
largest individual investors in the buy-out and were joined by approximately 150
members of the firm.

A consortium led by Mubadala Capital now owns 68% of Fortress equity. Mubadala
Capital’s CEO and Managing Director, Hani Barhoush, who has served on Fortress’
board since 2019, continues to serve on the board.

As previously announced, Fortress continues to operate as an independent
investment manager under the Fortress brand, with full autonomy over investment
processes and decision making, personnel and operations.

Under the new joint ownership, Fortress expects to further establish itself as a
leader in the alternative investment space, particularly in credit and real
estate across public and private markets, where it currently manages over $48
billion of assets on behalf of approximately 2,000 institutional investors and
private clients. Fortress expects to benefit from Mubadala Capital’s global
network and extensive portfolio of diversified assets, leveraging the companies’
extensive shared experience and resources to expand sourcing channels, build new
client relationships and to support strategic growth and expansion.

Fortress co-CEOs Drew McKnight and Joshua Pack said in a joint statement: “This
is a true landmark event for Fortress, for our employees and for the clients we
serve. Today, approximately 150 eligible members of the Fortress team invested
in their colleagues and our collective success, becoming equity owners of a
company many of us have been a part of for over 20 years. We have strengthened
alignments of interest, put significant management skin in the game, and
deepened our long term partnership with Mubadala, one of the world’s most highly
regarded investors. With an investment landscape continuing to align with our
greatest strengths, we could not be more excited about the future for Fortress,
our investors and our employees.”

Hani Barhoush, CEO and Managing Director of Mubadala Capital, said: “Mubadala
Capital and Fortress have developed a strong partnership since our initial
investment in 2019. The completion of this transaction marks an important step
forward as we seek to leverage our combined expertise and global networks to
capitalize on emerging opportunities within the alternative investments space.
Looking ahead, we are confident that collectively, we will unlock significant
value creation opportunities and deliver superior risk adjusted returns to our
investors and to Fortress’ stakeholders.”

Ardea Partners served as financial advisor and Shearman & Sterling LLP (now A&O
Shearman) served as legal counsel to Mubadala.

Goldman, Sachs & Co. LLC served as financial advisor and Kirkland & Ellis served
as legal counsel to Fortress senior management in the transaction. Skadden,
Arps, Slate, Meagher & Flom LLP represented Fortress in the transaction.

The Raine Group served as exclusive financial advisor and Morrison Foerster
served as legal counsel to SoftBank.

About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment
manager. Founded in 1998, Fortress manages $48.0 billion of assets under
management as of December 31, 2023, on behalf of approximately 2,000
institutional clients and private investors worldwide across a range of credit
and real estate, private equity and permanent capital investment strategies.

For more information, please visit  www.fortress.com

About Mubadala Capital
Mubadala Capital is the wholly owned asset management subsidiary of Mubadala
Investment Company, a leading global sovereign investor headquartered in Abu
Dhabi, UAE. Mubadala Capital manages c. $22 billion in aggregate across its own
balance sheet investments and in third-party capital vehicles on behalf of
institutional investors, including four flagship private equity funds, four
early-stage venture funds, two funds in Brazil focused on special opportunities
and a highly diversified evergreen investment strategy focused on private market
opportunities.

Mubadala Capital has offices in New York, San Francisco, London, Rio de Janeiro,
and Abu Dhabi.

For more information, please visit www.mubadalacapital.ae




CONTACTS

Media:

Mubadala
Salam Kitmitto
sakitmitto@mubadala.ae
+971 50 276 9286

Fortress
Gordon Runte
grunte@fortress.com
+1 917 981 1246


FORTRESS INVESTMENT GROUP




MORE NEWS

 * February 29, 2024
   Fortress Private Wealth Solutions Receives Top Honors at the With
   Intelligence Private Asset Management Awards 2024
 * December 11, 2023
   Fortress Announces Acquisition of Multi-Manager Platform, Hiring of Jeff
   Runnfeldt as Chief Investment Officer
 * October 18, 2023
   Village House Recognized for ESG Achievements


CONTACTS

Media:

Mubadala
Salam Kitmitto
sakitmitto@mubadala.ae
+971 50 276 9286

Fortress
Gordon Runte
grunte@fortress.com
+1 917 981 1246




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