By buying Fortress, SoftBank gains a team that could help it find and structure deals, as well as an asset-management back office (compliance, legal, trading) to aid it's $100 billion Vision Fund.
The scope of Mr. Son’s ambition—he has told associates he aims to create a Berkshire Hathaway-like holding company—and the speed of SoftBank’s pivot from its roots as a telecommunications and internet company have created the atmosphere of a startup. Employees have rushed to set up back-office functions and get settled into new office space in London, according to people familiar with the matter. Buying a money manager that has been operational for nearly two decades could speed up the process. Fortress co-Chairmen Wesley Edens and Mr. Briger said they will remain at the firm after the deal, as will Chief Executive Randy Nardone.