With assets totaling about $41.4 billion, Fortress Investment Group remains to be one of the largest and leading global investment companies. The privately held company was founded in 1998 and has close to 1,750 private and institutional customers all over the world. The company got its way to fame in 2007 when it was made the first ever private equity firm to be publicly traded in the United States.
The group recently grew its strategy to provide its investors with a secured investment through iPass, a global provider of connectivity options. It runs the world’s hugest Wi-Fi network that allows customers and business to have access to millions of WI-Fi hotspots. The amount of funding by Fortress was $20 million of which $10 million was availed to iPass right away. All considerable assets owned by iPass was used to secure the loan, including Smart Connect technology and its patent portfolio.
Brightline Train, a privately owned company owned by Fortress Investment Group, recently provided the rail option for those who need to travel between Miami and Fort Lauderdale. To say commuting between the two South Florida cities is a headache could be an understatement. It is a 30 minutes’ drive but could take even more than an hour during rush hours or any kind of traffic disruption. Other than the USB ports, Wi-Fi and power outlets on the train, Brightline has made it easy to commute between the two cities.
The Fortress was the other day acquired by a Japanese company, SoftBank. The acquisition deal was worth $3.3 billion, making SoftBank one of the huge investment companies globally. The acquisition is one of the latest anticipated news after a long period of exciting developments for Fortress Investment. Much as the acquisition deal is a major factor for SoftBank, it is hardly going to change the way Fortress Investment Group handles its daily operations.
Before the sign-up, SoftBank had to actually agree to remain unconcerned with matters relating to the management of the considerable assets run by Fortress Investment Group. The company gained from this arrangement by getting access to a wide range of limited business partners in Asia.