Fortress Investment Group LLC, the U.S. alternative asset manager to be acquired by Japan’s SoftBank Group for $3.3 billion, is exploring divesting bond fund manager Logan Circle Partners, according to people familiar with the matter.

While Logan Circle accounts for close to half of Fortress’ $69.6 billion in assets under management, it generated a tiny fraction of its $362 million in pre-tax distributable earnings in 2016, making it a non-core asset in the eyes of SoftBank.

Fortress is working with Bank of America Corp on an auction for Logan Circle, but the process is still in early stages, the sources said this week.

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