Masayoshi Son's investing giant plans to create a new asset management firm called SoftBank Financial Services to make alternative investments, according to The New York Times. The entity will reportedly help manage both the Vision Fund and Fortress, the investment group SoftBank bought last year for $3.3 billion, although both the Vision Fund and Fortress will remain separate entities.
Based in London, the new unit will reportedly have nearly $140 billion in assets under management. Rajeev Misra, who currently heads the Vision Fund, is set to lead SoftBank Financial Services. Misra had a brief stint as a managing director at Fortress before joining SoftBank in 2014.