Morrison & Foerster, Kirkland & Ellis, Shearman & Sterling and Skadden, Arps, Slate, Meagher & Flom are acting on SoftBank Group Corp.’s sale of a majority stake in U.S. asset manager Fortress Investment Group to Abu Dhabi’s global sovereign investor Mubadala Investment Co. 

Fortress and Mubadala have agreed to acquire 90.01% of the equity of Fortress that is currently held by SoftBank. The financial terms of the deal were not disclosed, but the Financial Times previously reported that the transactional value would be as much as $3 billion. That is less than the $3.3 billion SoftBank paid to acquire Fortress in 2017.