Randy Nardone News Today

Operator: Good day and welcome to the Rithm Capital’s Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions].

Fortress Investment Group and Mubadala Investment Company, through its wholly-owned asset management subsidiary Mubadala Capital, announced that they have entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group

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The Japanese giant acquired the U.S. asset manager for $3 billion four years ago, but sources say SoftBank couldn't mesh the New York firm's operations with its own.

SoftBank’s talks regarding Fortress are at an early stage, one person familiar with the matter told Bloomberg News.