Global law firms A&O Shearman, Kirkland & Ellis, Akin Gump Strauss Hauer & Feld, and Skadden, Arps, Slate, Meagher & Flom have advised a UAE consortium on the acquisition of New York-based American investment management firm Fortress Investment Group.

The consortium led by the UAE sovereign wealth fund Mubadala Investment Company, through its subsidiary Mubadala Capital and Fortress management, acquired 90.01% of Fortress held by Japan’s SoftBank Group Corp.