When it commenced its operations two decades ago, no one would have thought that Fortress Investment group would grow to the alternative asset management giant we see today. With assets worth more than $40 billion under its wing, and a workforce of over 900 people, Fortress indeed took over the area of alternative assets investing.However, even though it is quite a big company now, Fortress Investment group continues to make expansion moves with each dawn hence showing that it is not planning to stop until it get to the apex of success. For instance, the asset management firm recently gave investors more reasons to join its bandwagon after it partnered with IPass through a $20 million funding.
According to experts, this partnership offers its current and prospective investors completely a secured investment in IPass.IPass received $10 million immediately after the deal was signed, and is set to receive the rest within the next few months. Commenting on the matter, IPass CEO and president, Gary Griffiths said that this funding will enable the company to focus on increasing its revenue, and closing the gap to profitability as it now has enough capital to do so. Investors have nothing to worry about as IPass used its patents as security for that loan, thereby assuring any worried investor of IPass’s credibility. In addition to its smart connect technology and patent portfolio, the loan is also secured by all of IPass’s substantial assets, which sets the credibility bar even higher.
About Ipass and Why It Is a Good Investment for Fortress Investment Group
IPass is the force behind the world’s largest always-on WIFI which has completely revolutionized the digital world, as it enables users to access WI-FI hotspots from almost anywhere having more than 64-million hotspots worldwide. According to the firm’s CEO, this number is set to grow to 340 million by the end of this year, and if this happens, it means more returns hence making it an ideal investment on Fortress’s part.
Fortress Investment Group
Fortress investment is an alternative asset management firm headquartered in New York. It recently signed a $3.3 billion merger deal with Softbank which means it is now owned by Softbank even though it operates as an independent entity.