Latest news with #FortressInvestmentGroup
Reuters
8 hours ago
- Business
- Reuters
Intel wins jury trial over patent licenses in $3 billion VLSI fight
May 29 (Reuters) - A Texas federal jury determined on Thursday that Intel (INTC.O), opens new tab may have a license to patents owned by VLSI Technology, boosting Intel's efforts to overturn patent infringement verdicts that awarded VLSI more than $3 billion in damages. The jury agreed with Intel that Fortress Investment Group controls both VLSI and fellow Fortress affiliate Finjan Inc. Intel has argued that Fortress' control of both companies means that the chipmaker's patent license with Finjan also applies to VLSI. A VLSI spokesperson declined to comment other than to confirm the verdict. An Intel spokesperson also declined to comment. VLSI has sued Intel in multiple U.S. courts for allegedly infringing several patents covering semiconductor technology. A jury in Waco, Texas awarded VLSI $2.18 billion in their first trial, opens new tab in 2021, which a U.S. appeals court has since overturned and sent back for new proceedings. An Austin, Texas jury determined that VLSI was entitled to nearly $949 million from Intel in a separate patent infringement trial in 2022. Intel has argued in that case that the verdicts should be thrown out based on a 2012 agreement that gave it a license to patents owned by Finjan and other companies "under common control" with it. U.S. District Judge Alan Albright held the latest jury trial in Austin to determine whether Finjan and VLSI were under the "common control" of Fortress. VLSI said it was not subject to the Finjan agreement, and that the company did not even exist until four years after it was signed. A consortium led by Abu Dhabi's Mubadala Investment Company acquired a majority stake in Fortress last year from Japan-based Softbank Group Corp.
Irish Times
2 days ago
- Business
- Irish Times
Ardstone Capital to pay €177m for Dublin docklands apartments developed by Johnny Ronan firm
Ardstone Capital is set to pay €177 million to acquire Spencer Place, the high-end residential scheme developed by Johnny Ronan 's Ronan Group Real Estate (RGRE) in Dublin's north docklands. The company, which maintains offices in Ireland, the UK, Germany and Spain, is understood to be in the process of finalising its acquisition of the portfolio of 393 apartments from the US-headquartered Fortress Investment Group, having seen off competition from several parties. Another US real-estate investor, Hines, had been in the lead to acquire the Spencer Place scheme until recently, before being overtaken by Ardstone. The first round of bidding saw a total seven parties either bidding or expressing their interest in the scheme. While the initial stage of the process saw bids from Hines, Irish investment manager Carysfort Capital, German investor MEAG and one other party, Ardstone Capital limited its involvement at that point to an expression of interest, as did Ares Management and Axa. Offers for the portfolio are understood to have come in at €160 million-€170 million in the first round. Should Ardstone Capital complete its acquisition of Spencer Place for €177 million, it stands to secure a yield of 4.9 per cent on its investment. The proposed deal is understood to be in legals at present. The disposal of the portfolio is being handled by joint agents Eastdil Secured and CBRE. READ MORE The apartments at Spencer Place already came close to being sold on a number of occasions over recent years. In 2020, US real estate investor Cortland is understood to have been prepared to pay some €315 million to fund and acquire a larger scheme of 550 apartments and coliving units RGRE had been proposing for the site. The proposed deal with Cortland was abandoned, however, following repeated legal challenges from Dublin City Council in relation to An Bord Pleanála's approval of RGRE's plan to accommodate the additional units by increasing the height of the two blocks within the development from seven to 11 and 13 storeys respectively. In July 2021 the UK-headquartered property investor Round Hill Capital engaged in discussions with RGRE in relation to the potential purchase for about €220 million of a development comprising 349 apartments and a 100-bed aparthotel on the Spencer Place site. The portfolio that is now being sold comprises 393 apartments arranged across three blocks along with a range of facilities that include a 24-hour concierge, coworking area, bookable kitchen, gym, cinema, top-floor communal areas with views over the city, 78 car-parking spaces and 828 bicycle parking spaces.
Bloomberg
6 days ago
- Business
- Bloomberg
Trump Puts Weight Behind Private High Speed Rail
While President Donald Trump has threatened to block federal funding from California's troubled high-speed rail project, his administration has singled out the privately led Brightline West project for praise. That differing approach has further bolstered the prospects for Brightline, which is expected to break ground soon on its line from Los Angeles to Las Vegas, while the proposed state-run train has faced mounting delays and cost overruns. Brightline West, owned by billionaire Wes Edens' Fortress Investment Group, has also faced its own set of delays, and the company's Florida line has failed to turn a profit. Still, some critics of government spending see it as a model for constructing large-scale transportation infrastructure without excessive amounts of federal subsidies, Brian Kahn and Eliyahu Kamisher report. Today on CityLab:
Zawya
14-05-2025
- Business
- Zawya
Mubadala-backed Fortress and Kimmeridge set up Abu Dhabi outposts
The US-based Fortress Investment Group and alternative asset manager Kimmeridge have announced plans to set up offices in Abu Dhabi, the latest in a series of high-profile names setting up outposts in the region to attract clients from across the region. Fortress, which is backed by Abu Dhabi sovereign investor Mubadala, has announced plans to open a new office in the Abu Dhabi Global Market (ADGM). The opening follows the April 2025 announcement of a $1 billion partnership between Mubadala Investment Company and Fortress, focused on credit and special situations co-investment opportunities. Drew McKnight, Co-Chief Executive Officer and Managing Partner at Fortress, said the Abu Dhabi hub was part of their plan of looking at the Gulf region as a long-term investment and capital partner. The opening of the Kimmeridge office in Abu Dhabi also follows on from Mubadala Energy's deal with the energy-focused alternative asset manager in April to acquire a 24.10% interest in Kimmeridge's US upstream and LNG player SoTex. (Writing by Bindu Rai, editing by Seban Scaria)
Yahoo
14-05-2025
- Business
- Yahoo
Fortress Investment Group Establishes Office in Abu Dhabi to Advance Global Strategy
New office underscores Fortress's long-term commitment to the Gulf and strengthens alignment with strategic capital partners in the region ABU DHABI, United Arab Emirates, May 14, 2025--(BUSINESS WIRE)--Fortress Investment Group ("Fortress"), a leading global investment manager, today announced the opening of a new office in the Abu Dhabi Global Market (ADGM), and permission to undertake regulated activities through receipt of its Financial Services Permission from the ADGM Financial Services Regulatory Authority – marking a significant milestone in the firm's global expansion. The establishment of a permanent presence in Abu Dhabi—the capital of the United Arab Emirates and one of the world's most sophisticated financial centers—reflects Fortress's long-term view of the Gulf region as a key pillar of global capital formation and deployment. The new office will enable Fortress to expand its local footprint, deepen relationships with regional investors, and accelerate co-investment across private credit, real estate, and asset-based strategies. "Our decision to establish an office in Abu Dhabi is a strategic step that reflects our conviction in the Gulf as a long-term investment and capital partner," said Drew McKnight, Co-Chief Executive Officer and Managing Partner at Fortress. "The region is increasingly influential in shaping the future of global private markets, and we are committed to being here—on the ground, fully engaged, and ready to invest alongside partners who share our long-term orientation." The opening follows the April 2025 announcement of a $1 billion strategic partnership between Mubadala Investment Company and Fortress, focused on credit and special situations co-investment opportunities. The ADGM office will serve as a key hub for executing on that mandate and cultivating new opportunities across the region. "Our global growth strategy is rooted in performance, alignment and solutions —and this expansion exemplifies that," said Joshua Pack, Co-Chief Executive Officer and Managing Partner at Fortress. "Being on the ground in the Gulf gives us a direct connection to some of the world's most forward-looking institutional partners and enables us to collaborate with greater scale and speed, and we look forward to further expanding our presence in the region in the years ahead." Jack Neumark, President and Managing Partner at Fortress, added: "Our new office in the ADGM will help us to accelerate our partnerships across the Gulf. The region's investment landscape is incredibly dynamic and evolving quickly, and we are excited to bring Fortress's strengths in private credit, real assets, and asset-based strategies to the region and to grow alongside our partners." The ADGM office will be led by executives with deep regional and sectoral expertise. The firm plans to grow its local team to support origination, underwriting, and asset management across core strategies, while also serving as a regional gateway to Fortress's global investment capabilities. About Fortress: Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $50 billion of assets under management as of 31 December 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed more information, please visit View source version on Contacts Mark Lanemlane@ C: +1 917.842.4228
