Fortress Investment Group is a financial services provider, an investment management firm located in New York. It was initially founded as a private equity firm on January 1, 1998. It was founded by Wes Edens, Peter Bridges, and Randal Nardone.
In 2007 it became the first large-scale private equity firm to turn public in the New York Stock Exchange as was highlighted by its initial public offering that year. Fortress investment group handles assets worth over 43 billion dollars for their investors across permanent capital ventures, hedge funds, and private equity.
It was named as the Institutional Hedge Fund Manager of the Year by the Institutional Investor Magazine in June 2014. Some areas of expertise of the Fortress Investment Group include asset-based investments which include capital, real estate, and financial vehicles by utilizing private equity and credit funds to bring about cash flow in the long term.
They are also involved in operations management, managing mergers, and acquisitions and are specialists in capital markets and have institutional knowledge regarding companies and the wide variety of industries.
In 2017, the corporation was purchased by the Softbank Group Corporation which is a Japanese company whose headquarters are in Tokyo at 3.3 billion dollars. However, it still serves as an independent entity retaining its base at New York. Its founders remained serving as its principals.
Softbank has an eye on the information revolution and its management mainly leaning towards companies that deal with artificial intelligence, intelligent robotics, telecommunications, internet services, and other technologically based companies.
Their purchase of Fortress Group was a tactical move as it sought to increase investment expertise in its investment fund management.
Fortress Investment Group has recently partnered with iPass which is a world-leading provider of connectivity options globally. It operates the most extensive Wi-Fi network in the world.
With the partnership, Fortress provides funding of 20 million dollars, availing 10 million directly. This financing deal was brokered by Riley Financial which is an investment bank specializing in organizing financing between companies and investors.
Wes Edens owns his private passenger rail system in the United States the Brightline Train. Following the frustrations that are felt by many residents of Florida while commuting from Miami and Fort Lauderdale especially during rush hour time or other inconveniencing situations, the Brightline Train started operating on the route.
It has been useful especially in reducing the traffic on the Florida roads and providing a friendlier and cleaner traveling option.