M&A Deal Summary

Fortress Acquires GAGFAH S.A.

On September 1, 2004, asset manager Fortress acquired real estate company GAGFAH S.A. for 8.6B USD

Acquisition Highlights
  • This is Fortress’ 4th transaction in the Real Estate sector.
  • This is Fortress’ largest (disclosed) transaction.
  • This is Fortress’ 1st transaction in Luxembourg.
Investment Fate
  • GAGFAH S.A. went public in 2006.
  • GAGFAH S.A. was sold to a strategic buyer in 2014.

M&A Deal Summary
Date 2004-09-01
Target GAGFAH S.A.
Sector Real Estate
Buyer(s) Fortress
Deal Type Going Private
Deal Value 8.6B USD

Target

GAGFAH S.A.

Grand Duchy of Luxembourg, Luxembourg
website
GAGFAH is a realty company with core business is the ownership and management of a geographically diversified apartment portfolio acquired from the German Government and other long term owners.

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Buyer(S) 1

Buyer

Fortress

New York, New York, United States

website

Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 10 of 44
Sector (Real Estate) 4 of 7
Type (Going Private) 2 of 7
Country (Luxembourg) 1 of 1
Year (2004) 3 of 4
Size (of disclosed) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Global Ship Systems

Savannah, Georgia, United States

Global Ship Systems is a provider of prime and sub-contract repair and refit services to marine operators and shipbuilders.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Aircastle

Stamford, Connecticut, United States

Aircastle acquires, leases and sells commercial jet aircraft to airlines throughout the world. Aircastle owns and manages on behalf of its joint ventures 300+ aircraft leased to customers around the world. Aircastle was formed in 2004 and is based in Stamford, Connecticut.

Buy $700M
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