Fortress Investment Group, one the World’s Investment Management Firms
In January 1998, a group of financial gurus and investors came together and founded the Fortress Investment Group. Randal Nardone, Wesley Edens, and Rob Kauffman are the co-founders of what is now known as one of the world’s largest investment management companies managing assets worth more than 40.9 billion dollars. Fortress Investment Group serves close to one thousand seven hundred and seventy private and institutional clients around the globe. The company has its headquarters in New York and employs close to 900 individuals from different parts of the world.
Fortress specializes in asset-based investment, capital marketing, corporate mergers and acquisition, operational management and knowledge on companies and institutions in specific sectors including technology, finance, and real estate.
The acquisition of Fortress by SoftBank
- The acquisition of Fortress by SoftBank
After nearly two decades of successful operation, impeccable leadership and prestigious partnerships, in December 2017, Fortress was successfully acquired by SoftBank, a four-decade-old multifaceted company based in Tokyo Japan. The acquisition was completed for 3.3 billion dollars. With the aim of owning all the shares in the company, SoftBank paid out all the shareholders 8.08 dollars for each share. Despite the acquisition, Fortress has continued to run independently as a private entity under SoftBank with its former management structure with Randal Nardone, Wes Edens, and Peter Briger as the principals in place. To know more about the company click here.
Current operations by Fortress Investment Group
- Current operations by Fortress Investment Group
Recently Fortress has partnered with iPass. IPass is a worldwide mobile connectivity provider responsible for not less than 64 million hotspots globally making it the globe’s largest Wi-Fi provider. By partnering, both iPass and Fortress are venturing into new industries in an attempt to expand. The partnership means financial relieve for iPass and an opportunity to partake in the multiple innovation ventures brought about by iPass for Fortress Investment Group.
Fortress has also recently launched Brightline Train. Brightline is the United States privately operated and owned commuter rail system. The train is a project began by Fortress’ Wes Edens aimed at providing greener and cheaper means or transport. The train routes between West Palm Beach and Fort Lauderdale. Other than transportation, Brightline also offers food services, Wi-Fi, USB ports and leather seats for passengers comfort. The success of Brightline will also mean an increase in the real estate prices in the areas served by the train which is a win-win situation for fortress which also partakes in the real estate industry.