Morrison Foerster advised Fortress Investment Group in connection with the $3.32 billion sale of its portfolio company operating Accordia Golf courses in Japan to Heiwa, a Japanese leisure company listed on the Tokyo Stock Exchange that operates golf courses in Japan under the brand of Pacific Golf Management. Fortress is an investment management firm that manages alternative assets in private equity, liquid hedge funds, and credit funds. The sale makes Heiwa the world’s largest owner of golf courses, with the company having 321 courses. With ample funding, better returns and a plethora of potential targets, Japan has become the new playground for privateequity firms. They are likely there to stay. The Wall Street Journal 30 Morrison Foerster
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