Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Wes Edens’s Fortress Acquires OneMain Financial

Funds managed by Fortress own approximately 73 million shares of Springleaf.

Wes Edens

Fortress Investment Group’s Co-Chairman Wes Edens announced agreement to acquire OneMain Financial:

“As a significant shareholder of Springleaf, we believe this is a compelling transaction, both strategically and financially. It brings together two companies with similar cultures and exceptional management teams, singularly focused on meeting the everyday financing needs of an enormous population of working Americans.

This combination will create a premier consumer finance company, serving approximately 2.5 million customers, with $15 billion in assets, 2, 000 branches and a leading digital presence in the market.”

Fortress (NYSE:FIG) is global investment firm with $67.5 billion in assets under management. on behalf of over 1, 600 institutional clients and private investors worldwide across a range of private equity, credit, liquid hedge funds and traditional asset management strategies.

Funds managed by Fortress own approximately 73 million shares of Springleaf.

The investment dates to August 2010, when Fortress agreed to purchase an 80% stake in American General Finance for approximately $125 million.

Springleaf completed an initial public offering on October 15, 2013 and trades on the New York Stock Exchange (NYSE: LEAF). Fortress has retained its ownership stake in the company.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement