Fortress Investment Group: Helping Around The World
In 1998, Fortress Investment Group was founded as a private equity firm. Twenty years later, this company is a diversified global investment firm. Fortress has over $43 billion of assets and over 1750 investors ranging from private equity firm to permanent capital vehicles to hedge funds.
Fortress has its headquarters in New York and employees around 900 people with many different financial backgrounds. Randal Nardone of New York, Wes Edens of New York, and Peter Briger of San Francisco are the principals behind this company.
Fortress Investment Group specializes in asset-based investing, operations management, and corporate mergers and acquisitions. The employees here also specialize in having specific knowledge of different companies and institutions. All employees have made and maintained relationships with a wide range of corporate board members and management professional.
Wes Edens’ Private Train
Wes Edens is one of the co-founders and is the co-chief executive officer at Fortress Investment Group. He came up with a more environmentally friendly way to get people from Miami and Fort Lauderdale.
The Brightline train is part of the United States’ only privately owned and operated passenger rail system. It is brought to us by All Aboard Florida and started running in the Miami area in May of this year. Although, it has been running between West Palm Beach and Fort Lauderdale since the beginning of 2018.
The passengers on the Brightline get a chance to unwind after a long day at work by relaxing in the leather seats. The Brightline was built with wider aisles, built-in, complimentary Wi-Fi, power outlets, and USB ports. They also have lounge areas and a food service available.
Brightline is owned by Fortress Investment Group and with the positive feedback they have gotten from southern Florida, they are talking about implementing this same service in many other cities across the United States.
Fortress and iPass
Fortress is one of the top global investment management companies and iPass is a mobile connectivity provider who is struggling. The two companies created a credit facility which once finalized had a value of up to $20 million which came from affiliate managed funds.
Mr. Griffiths from iPass will now be able to focus more on increasing the revenue. Both companies are really excited to be working together to expand the iPass market as well as helping people all over the world have better mobile connectivity.