Fortress Investment Group is an international company based in New York City. The investment management firm, founded in 1998 as a private equity firm, has grown rapidly to direct properties worth over $43 billion worldwide. Furthermore, the trendsetter in the investment industry has over 1500 investors as well as employing over 900 people.
Rand Nardone, Peter Briger and Wes Esdens are the Fortress Investment Group’s founders who also adds up as the company’s principals. They have been part of the investment firm’s growth to become the big company it is now.
One of the firm’s principals, Wes Edens, launched a train service between Miami and Fort Lauderdale. This was in a move to relieve the residents who were already spending a lot of time commuting. Brightline, owned by Wes Edens, runs trains around the clock to ease traffic jams and congestion in the roads.
Brightline is one of the Fortress Investment Group’s investment and it hopes to extend its train services to other cities. Fortress has continued to spread its wings across many investment niches and most recently, it entered into a partnership with iPass. In the venture, Fortress Investment Group gave $20 million worth loan to iPass in an effort to secure a worthwhile investment to its investors and shareholders.
Who is iPass? It is a fast growing technology company specializing in provision of reliable global connectivity options. The deal between the two parties was conducted by Riley Financial Inc.. They agreed that iPass’s assets, inclusive of SmartConnect technology as well as its patent portfolio, were to be used as security for the loan.
Being a company in the technology industry iPass has expressed a considerable potential of growth. That could have contributed to informing Fortress’s decision to invest in the company.
What has probably attracted the most attention, is the acquisition of Fortress Investment Group by SoftBank. Started as a computer software company in 1981, SoftBank has grown tremendously to acquire over 400 technology companies worldwide. The $3.3 billion deal saw SoftBank acquire the investment firm and definitely, that will influence the development direction SoftBank will take. Additionally, SoftBank decided not to interfere with the management of Fortress’s assets to avoid regulatory issues.