Fortress Investment Group is a limited liability Company founded in 1998 by Randal Nardone, Wes Edens and Rob Kauffman. As of June 30, 2018, it has been managing $41.4 Billion of assets in the private sector. It is one of the world’s largest alternative asset managers with its headquarters in New York City.
Fortress Investment Group deals with credit facilities, permanent capital vehicles, and private equity. They have assets under management on behalf of over 1750 client. These clients range from institutional to private investors worldwide.
Open-end Asset Funds
To give clients a more convenient way to invest, Fortress Investment Group is using open-end asset funds. This type of fund is free from restrictions on the number of shares it issues on stocks. They do this through a private credit effort.
Fortress Investment firm also deals with funds that are meant for real estates, plane leases, intellectual properties, etc. The giant asset manager also owns and runs several other big businesses. They also own Brightline group of trains. The trains can run up to a speed of 79 miles per hour on the Miami and Fort Lauderdale route. On August 29, 2018, Brightline received $1.75 Billion in funding from Florida Development Finance Corp. This will go towards expanding the Miami-to-West Palm Beach route to Orlando with the project expected to end by 2021.
The firm partnered with iPass to offer its members investment opportunities in iPass. iPass operates the world’s largest Wi-Fi network. The partnership reached $20 Million.
20 Times Square
Fortress Investment Group partnered with Maefield Development and acquired the 20 Times Square Property in 2012. In 2015, they built a luxury hotel within the building. Also, they plan to refurbish the popular Palace Theater and add more outdoor screens. They will also lease some rooms to investors.
In 2014, Fortress Investment group won the Hedge Fund manager of the year award. It was also voted the Management Firm of the year.
In 2017, SoftBank Group acquired Fortress Investment firm for $3.3 Billion. Founded in 1981, SoftBank Company owns stakes in more than 400 firms.