Shulou(Shulou.com)11/24 Report--

CTOnews.com, Sept. 7 (Xinhua)-- Abu Dhabi's sovereign wealth fund (Mubadala Investment) is considering buying Fortress Investment Group from Softbank Corp. Group, a deal that is nearing completion, Bloomberg reported, citing people familiar with the matter.

Softbank Corp. bought Fortress in 2017 and hopes to use the New York-based asset manager to help it manage its vision fund. It is said that the sale of the US asset manager will be valued at more than $2 billion.

CTOnews.com learned that as of December 31 last year, Fortress had $53.3 billion under management. The company is led by co-chief executives Pete Briger and Wesley Edens, who currently manages $53.3 billion.

According to reports, the ADIA ‎ (Abu Dhabi Investment Authority) is a strategic investment fund of the United Arab Emirates. Set up and owned by the government, the company's strategy is based on long-term investment management, bringing strong financial returns and practical social benefits to the United Arab Emirates. It has invested in BOSS Direct Employment, Kuaishou, Xiaopeng Automobile and so on in China.

Previous data showed that the total sovereign wealth assets of the United Arab Emirates accounted for 14.6% of the world's total assets, or about $1.19 trillion. Among them, the Abu Dhabi Investment Authority (ADIA) has assets of US $697 billion, ranking third in the world.

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