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
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.