In a landmark move within the private credit and alternative investments space, Mubadala and Fortress Investment Group completed the acquisition of 90.01% of Fortress' equity previously held by SoftBank Group Corp.

The transaction marked a significant milestone in a long-standing relationship between the two firms, positioning Fortress to capitalize on global credit market opportunities.

The acquisition further strengthens Mubadala’s presence in the alternative asset management industry while enhancing Fortress’ strategic autonomy and leadership. Fortress continues to operate independently, retaining full control over investment processes, operations, and personnel under its established brand.

For Mubadala, the deal builds on a strong foundation of collaboration, which began in 2019 when Mubadala Capital first invested in Fortress. This step aligns with Mubadala Capital’s strategy to deepen its participation in the credit and real estate sectors across public and private markets.

Through this continued partnership, Mubadala gains broader access to a steady pipeline of investment opportunities while supporting the growth of Apollo’s capital solutions platform. This alignment enhances Mubadala’s reach and presence across private markets.

Following the transaction, Fortress management now holds a 32% equity interest and majority control of the board. A consortium led by Mubadala Capital owns the remaining 68%, with Mubadala Capital’s CEO and Managing Director, Hani Barhoush, continuing his role on Fortress’ board.

By leveraging Mubadala’s global platform and Fortress’ sector leadership, the partnership aims to unlock long-term value creation and deliver strong risk-adjusted returns for investors and stakeholders across both firms.

Since 2009, Mubadala’s Credit Investments unit has focused on direct lending across industries and asset classes. While historically concentrated in North America and Europe, Mubadala continues to expand its global exposure, including through strategic investments like Fortress.