Category Archives: Financial Institutions

Randal Nardone Remains to Manage Fortress After SoftBank Acquistion

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Chief Executive Officer Dan Mudd of the Fortress Investment Group will be taking a leave of absence. So, for the meantime, the Fortress Investment Group appointed Randal Nardone as the Interim Chief Executive Officer. He will assume the duties of a CEO without delay. Randal Nardone is 55 years of age, and he was listed on the Forbes Magazine’s “World’s Billionaires” in 2007. At that time his net worth was $1.8 billion. He is a Principal and Co- Founder of the Fortress Investment Group, which je joined in 1998. His billionaire status came to be when Fortress became a publicly traded company during the early part of 2007. He similarly served as the investment firm’s Board of directors ever since November 2006. Randal Nardone’s past professional experience comprises being a managing director of UBS, and before he joined the great Swiss Bank, Nardone was BlackRock Financial Management’s principal. And before that, he was Thacher Proffitt and Wood’s executive committee member and partner.

Nardone completed his bachelor’s degree in science at the University of Connecticut. He also has a Jurisprudence Degree from the Law School of Boston University. The SoftBank Group Corporation or SBG publicly broadcasted that is has finally sealed the acquisition agreement with Fortress Investment Group. Softbank paid $3.3 billion cash in order to have the investment firm under its wing. After the transaction, SoftBank and its affiliates will be in possession of the overall outstanding shares of Fortress. The finalization of the deal construes the fulfillment of all the stipulations, which similarly includes the receipt of all compulsory supervisory endorsements as well as the consent of the Fortress’ shareholders on the 12th of July 2017.

Relevant to the acquisition, every remaining share of Fortress’ Class A share was transformed with the right to gain $8.08/ share in cash, where the merger profits will be disseminated in agreement with the payment processes stated in the Definitive Proxy of Fortress that was dated on the 7th of June 2017, including the Merger Agreement that was integrated within. Simultaneous to the finalization of the acquisition agreement, the common stocks of Fortress have stopped trading on the New York Stock Exchange, and will be deleted from the list of publicly traded companies. The financial statements of Fortress will be included in SoftBank’s financial statements, and it will publicize the effect of the consolidation as needed. Pete Briger, Wes Edens, and Randal Nardone will remain to oversee Fortress, which will operate independently from SoftBank.

May 6, 2018

Highland Capital: Improving Healthcare, Improving Lives

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Just recently, a Korean affiliate of the Dallas Highland Capital Management, was able to close a deal on healthcare-based private equity totaling to $ 147 million in monetary commitments.

Gaining Private Equity

The National Pension Service (NPS) of South Korea is the main investor of the capital commitment. Since its beginning in 1988, it was worth KRW 565 trillion ($488.8 billion), while another institute called the Sovereign Wealth Fund calculated their value at $465.13 billion.

The investors who committed in the Highland funding, along with NPS Korea had their goals in mind about healthcare improvements aside from their returns. These include: being able to have other opportunities for investments in South Korea, China and US. Read more about Highland Capital at prnewswire.com.

Highland Capital hopes to expand in the next quarter, by forming alliances with Stonebridge Capital. Stonebridge Capital is Korea-based private equity, as well as a venture capital firm. Together, Stonebridge and Highland capital will manage the funds set for the Asia expansion. Although this is the pioneer private equity funding related to healthcare by Highland Capital, there is a profound interest from the investors within the two years of this venture.

Improving Healthcare through Investors

According to Carl Moore, the managing director and one of the heads of Highland Capital’s private equity group, the funding is ultimately contributing to the firm’s strength in the healthcare sector. Since Highland Capital is known for their expertise in the health industry with half of their partnerships related to healthcare businesses, it is imperative that this private equity funding will bring in profits for the investors and improvements in South Korea, and eventually Asia’s healthcare landscape. During the 2nd quarter of 2017, Highland Capital was able to report $1.5 Billion assets in healthcare along different asset classes and fund structures. Visit highlandcap.com to know more.

The managing director of Highland Capital, Matt Jameson, also stated that healthcare in the United States are facing several challenges that make it difficult for the companies in the middle market. According to him, the demographic statistics show that there is a greater need to utilize more middle market services due to the varying consumer and government demands. He hopes that these demands will also provide opportunities to healthcare investors to expand their businesses and help improve the industry.

Read: https://www.dallasnews.com/business/jobs/2017/09/25/executive-changes-hirings-promotions-enseo-ericsson-highland-capital-sept-25-29

December 19, 2017

Benefiting from Equity First Holdings

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No one can deny that one point in our life; we have been hit by the harsh economic conditions. The United States have been faced with financial crises which were worse in 2008, and things have gone out of control after the United Kingdom decided to exit EU. In these entire harsh economic crises, one company has still survived thanks to their innovative technological advancements. This company, Equities first Holdings, have continuously become one of the biggest in offering financial solutions.

It has also led global initiatives to help the world understand the benefits of stock-based loans as being the most convenient ways of getting fast working capital in cases of economic crises. When it comes to working with Equities First, there are some groups that would benefit when working with the firm.One of the groups consists of individuals who require money to expand their businesses, pay an expensive debt or personal reasons. In some case, a person can require money quickly to use in a given situation. When approaching other financial institutions, they have high-interest rates that put off someone. With Equity Firsts, it is easy to acquire the needed amount with low return rates.

Another group that is seen to benefit from working with Equity Firsts includes individuals or businesses that can apply for a stock loan and use equities as collateral for a period of time. This applies when a person or business has stock in a particular company and is sure in the coming years the stock will have appreciated. The next stage is transferring the borrowers shares to Equity Firsts. These shares will be used as collateral, and the borrower gets the loan he/she wanted. In case an individual has a significant amount of stock in a firm and would like it liquidated, Equity Firsts is the place to go.With the help of Equity Firsts, the world has been made a better place regardless of the economic crises affecting the commercial businesses. It all begins by contacting equity Firsts for you to be assisted.

February 9, 2017