Walkers Acts on SoftBank Acquisition of the Fortress Investment Group

Walkers advised SoftBank on their acquisition of the Fortress Investment Group LLC, the first large private equity firm in the United States to be traded publicly with approximately $36 billion AUM (as at September 2017), in a take-private transaction for $3.3 billion in cash. Fortress will operate within SoftBank as an independent business headquartered in New York.

Walkers advised generally as Cayman Islands counsel on the structuring of the acquisition structure, including with regards to the utilization of Cayman Islands LLCs within such structure: the greater flexibility provided by these new Cayman vehicles (available since mid-2016) helped streamline the funding process as well as associated corporate governance issues. Walkers also assisted in liaising with various regulators across the various jurisdictions in which Fortress acted, including without limitation the USA and Italy.

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