Nomura Holdings has agreed to acquire a 15% stake in New York's Fortress Investment Group, which manages $26 billion in alternative investments.
The transaction, valued at approximately $888 million, is slated to close in January 2007 and is expected to facilitate the expansion of Fortress's business in Asia.
The deal, announced on Tuesday, comes just a month after Fortress filed to go public, the first U.S. alternative asset management firm to do so. In that deal, the firm expects to sell a 10% stake that would value Fortress at a lofty $7.5 billion.
Fortress has three principal businesses: hedge funds, private