Brightline recently announced its new passenger train that will serve the Miami-Fort Lauderdale route. This announcement was not only good for the Florida based company, but also the Fortress Investment Group. This is because they own Brightline and had been counting on its success as part of their transport infrastructure investment. The new trains that are American built will take 35 mins and charge ten dollars for a one-way ticket. This will offer commuters reduced travel time will significantly cut down on the cost of travel. The company has been determined to expand its presence in the Miami area given its success on other routes within it.
The Fortress Investment group, their parent company, was established in 1998 by three partners. They were determined to build an investment vehicle that they would use to generate and grow wealth in the best way they knew how. Given their backgrounds in finance and private equity, it is easy to see why they chose this route. Within the first five years, they had managed to grow the resources within the group sixfold. This was 2002, and they quickly realized that with the existing investment opportunities they needed a credit division that would serve as their investment vehicle in this area as well as the valuation and validation of investments before they were made.
Wes Edens, one of the three founders, had a unique investment style. He was known for finding undervalued or distressed assets and investing in the same. This was one of the reasons they needed another strong partner who they found in Peter Briger. He had a solid background in the management of distressed assets. He was, in fact, an advisor at the International Finance Corporation on the same. He would work together with Edens to secure these investments and ensure that the Fortress Investment Group only got the best deals.
In 2017 Soft Bank the Tokyo based investment bank came calling. The Bank was willing to offer a forty percent premier per share and acquire The Fortress Investment Group for 3.3 billion. This offer was submitted to the group’s shareholders for approval. The approval was granted mid last year, and Soft Bank was free to release the cash. The acquisition by Soft Bank is expected to make the group stronger given their financial might something that the founding partners and principals are excited about. The group is now entirely private and no longer listed on the NYSE.