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Month: September 2018

OVER TWO DECADES OF FORTRESS INVESTMENT GROUP

September 30, 2018 • fishcarolina

Founded on 1st January 1998, Fortress Investment Group has seen all the weather and seasons associated with operating in the financial sector of the economy. The company has dedicated itself to providing management services to alternative assets, liquid hedge funds, credit funds, and assets in private equity. With over two decades in the marketplace, the firm has employed over 3000 number of employees in its facilities.

Fortress Investment Group is a private equity firm founded by three key notable figures in the finance industry. The co-founders of the company include Peter Briger who serves as a principal and co-chairman of the Board of Directors. Randal Nardone is also a co-founder of the investment company. He acts as a principal and director of the firm. Wes Edens is also among the co-founders of the company.

The company is currently trading at the New York Stock Exchange. Since its formation, the firm has had a total of 11 exits, 4 number of funds and a total of $2.7 billion regarding raised funds. In the past, the company had 20 serving members but has currently reduced this number to 7 only. It has so far announced 2 acquisitions, that of CoreVest American Finance and Liberty Group Publishing.

Recently, Fortress Investment Group received over $1.74 billion amount of funding for its Brightline project. This amount will come in handy in the expansion of the train’s route from Miami to West Palm Beach and Orlando. The funding was placed when Florida Development Finance Corp in a unanimous vote allowed for the approval of over $1.13 billion in federal tax on exempted bonds. Another $600 million was refinanced from the already approved private equity bonds. Among the goals of the company is the completion of this route by 2021. Plans are already underway for the course to be expanded further to Tampa.

Since the Brightline project started, Fortress Investment Group has reported a number of successes with their operations. Several routes have been completed, and business is already underway in these places. The project was started in January, and by 13th January, the trains were already en route from West Palm Beach although to destination Fort Lauderdale. It expanded service on May 19th to cover Miami.

https://therealdeal.com/new-research/topics/company/fortress-investment-group/

Wes Edens; A Visionary Entrepreneur Trained to Recognize Unique Investment Opportunities

September 11, 2018 • fishcarolina

Among the first entrepreneurs in the modern form of investment management firms is Wes Edens. He and two others came together to form Fortress Investment Group which is still in operation to date. It was the first largest investment company to record on the New York Stock Exchange. Fortress Investment Group began in 1998. It deals with various forms of investments from hedge funds to private equity. It has almost $50 billion worth of assets under its supervision and nearly 2000 investors. With the expertise of the founders (the other two are Rob Kauffman and Randal Nardone), the company has successfully engaged in high-risk investments. As an entrepreneur, Wes Edens infiltrated the transport system by coming up with a more efficient way of traveling from Miami to Fort Lauderdale. He formed the Brightline’s Smart Service, the only privately owned rail system in America.

The company, which belongs to Fortress Investment Group, began its operations on May 2018. Wes has plans to expand the train system operations into Chicago, St Loius, and Milwaukee. The train system’s efficiency comes hand in hand with the cost and time taken to travel between the two cities that it serves. The average driving time from Miami to Fort Lauderdale is one hour. Moreover, it may take up to $40 to book a taxi. The transport cost for the Brightline trains is only $10. It is estimated to travel using half the time a vehicle will take from Miami to Fort Lauderdale. You will rarely find such privileges such as comfortable seats and good food in transport cars or government train systems.

Apart from influencing the investment management world, Wes Edens has also ventured into the sports arena. He is a co-owner of Milwaukee Bucks, a successful basketball team that is globally recognized. Wes confirmed his intentions of expanding into soccer after his recent purchase of Aston Villa Football Club, an England based football club. Wes Edens worked together with Nassef Sawiris to own a more substantial part of Aston Villa’s shares. Nassef is also an entrepreneur based in Egypt. The ownership deal concluded with English Football League’s recognition of the purchase. Though in the past few seasons Aston Villa has not been doing well in the renowned Premier League, it has been among the top teams in the league for years. The new ownership development aims at bettering the Aston villa’s image and returning the team to its rightful place at the top.

The Evaluation Of The Crypto Crash By Paul Mampilly

September 8, 2018 • fishcarolina

Paul Mampilly is an investor for Banyan Hills Publishing and was previously a hedge fund manager. He was born in India, and when he made his trek to the United States, he was pulled in to the hustle and bustle of Wall Street. He has over 25 years of investing experience, with his start as an assistant portfolio manager for Bankers Trust back in 1991. Mampilly then went on to work for other companies and managing multimillion accounts and portfolios. He created a newsletter, Profits Unlimited, in order to reach more people who are interested in investing smart.

Paul Mampilly writes various investment articles to various sources, such as Banyan Hill Publishing Company. He released an article on August 23, 2018, that looked into the a major innovation that underscores many cryptocurrencies. He starts the topic off by reminding his readers about FOMO, or the fear of missing out. As investors, it is critical for them to jump in and buy stocks at a critical point, and choose whether to hold that stock or sell it for its highest price. Paul Mampilly brings this up because he previously warned subscribers that they should not jump hastily onto the bitcoin bandwagon. Bitcoin process were doing well for a quick moment, and then suffered a massive drop and has not shown much recovery. Paul Mampilly views cryptocurrencies as being volatile, and suggests not investing in it.

Cryptocurrency was doing so well in the beginning because of the hype created by the media, skewing investors impressions into believing this would put them on the track on making a lot of money. There are plenty stories of individuals investing in cryptocurrencies like Bitcoin and making rich gains, however, this was just a blurred bubble. In effect, other investors put a lot of their money into this market hoping to make it big as well, however, the door that was open is now closed, the prices dropping off 70%. This crash in the crypto market has left many with sad tales to tell. What caused this sudden loss? The culprit is another technology, blockchain, which is more sturdy and robust. Blockchain is used almost everywhere, either to verify an identity or to prove ownership. It easily stores these types of sensitive information, and will be used more in the upcoming years.

Visit More : ideamensch.com/paul-mampilly/

Categories: Company, Investment

The Real Deal Behind the Chainsmoker Alex Pall

September 7, 2018 • fishcarolina

As the Chainsmokers; Alex Pall and Andrew Taggart look ahead to the future, they take a moment to reflect on where they came from and what it means for the future. One risked it all by leaving home and the other by quitting his day job. This commitment has proved worth the risk.

Alex Pall knew that he and Taggart would get along after their first conversation. Each one brought skills to the table that would allow for an intriguing combination. While Pall was social media savvy and capable of managing their online image, Taggart was a successful producer. Their drive and ambition drives them to be a better than average DJ duo.

Unlike, many of the artist out in there today; Pall insist that they keep their hands in the water. Either writing the lyrics themselves, or ensuring collaborations do not get off track. Which makes sense as the music is about there lives and how they feel about its evolution. It’s imperative that the sound of the music and the lyrics ring true. The definitive proof is in the song Closer; which is a collaboration in vocals with Halsey, but written by Taggart and another friend.

Musically, they are more in sync than ever, but at home they are a bit different. Andrew Taggart has chosen a home with more of a modern design, but with a fung shui feel. More than 45 thousand square feet show off glass walls for the dining and living rooms. The dazzling display of a sleek waterfall adding to the rich views of the landscape.

However, Alex Pall chose a home circa 1930. Several modern highlights include a home studio and with the stunning mountain views there is no shortage of inspiration. With a tree growing in the entryway, his home is more of a Zen upgrade.

Regardless of their different style of homes, music finds them closely knit together. Looking forward, even as they acknowledge the past.

http://variety.com/2018/music/news/chainsmokers-halsey-honor-avicii-billboard-music-awards-1202817443/

Dick DeVos Changed Grand Rapids For Good

September 6, 2018 • fishcarolina

There is absolutely no question that Dick DeVos and his wife Betsy changed the face of Grand Rapids, Michigan forever. The reason why this is important or even being discussed in the first place is because the pair are from that city. It is their hometown, and it is the first place that was impacted in a big way by the methods that the DeVos family uses. Put another way, had it not been for what the DeVos family did in Grand Rapids, they might not have continued to have the success that they so obviously have had throughout the remainder of their life.

 

The two did not exactly set out to change the entire landscape of Grand Rapids, Michigan, but that is how things worked out. What they saw at first was that the city was going to attempt to build a multi-sports complex with the hopes of attracting more tourism and dollars to the city. The DeVos family thought that this was a horrible idea primarily because they did not see any positive results coming out of this when other cities such as Detroit had attempted it in the past. They were concerned that the city was only looking at this from one narrow prospective, and they believed that by doing so, the city was actually reducing its chances of successfully its end goals.

 

Both DeVos family members began to lobby against the idea of building the sports center precisely because they knew that it would likely fail in Grand Rapids just as it had in so many other cities and towns in Michigan. They convinced enough people to agree with them on this issue, and the next thing you know, the city scrapped the plan to have the sports complex at all. It was as simple as that.

 

Instead of just celebrating their victory and moving on with life, the Dick and Betsy DeVos donated a large portion of their personal money to help build up other important structures in Grand Rapids including a new medical school building for the University of Michigan State. They did not want to just leave the city without developments that they agreed that it needed. Instead, they just wanted to make sure that the developments that did come along were ones that would actually be productive to the city and help it along on its course towards greater development going forward.

 

Follow Dick DeVos on Facebook.

Categories: Politics

Teams Up with Dallas Neighborhood to Help Low-Income Families Buy Affordable Homes

September 1, 2018 • fishcarolina

Dallas Neighborhood Homes, a reputable nonprofit that provides mortgage servicing, has teamed up with Dallas Area Habitat for Humanity to develop an Affordable Housing Loan Program targeting low-income families residing in southern Dallas. The aim is to provide over 100 loans a year to low-income individuals in specific areas in southern Dallas for five consecutive years.

The program has attracted financial support from NexBank, a leading regional bank based in Dallas. The bank will give out loans amounting to $50 million. Dallas Neighborhood Home plans to use the earnings to give loans to low-income individuals with little access to mortgages. On its part, the Dallas Area Habitat for Humanity will offer financial counseling services to these individuals to ensure they are ready for home ownership. Other than providing mortgage-lending money, NexBank will be responsible for paying all title costs for closings done through its affiliate as well as $2,000 in closing fees for each loan.

Senior Vice President Mark Tribuna of Dallas Area Habitat for Humanity thanked NexBank for their instrumental role in making affordable home ownership a success. He stated that the Affordable Housing Loan Program offered by Dallas Neighborhood Homes would provide a direct solution to the problem of low homeownership rates in southern Texas. He observed that by owning homes, low-income families would improve the quality of their lives and guarantee a secure future for their children.

NexBank’s VP and COO, Mr. Matt Siekielski, expressed his excitement for partnering with the two organization. He applauded the organizations for their effort and success in assisting low-income homebuyers to acquire budget-friendly homes.

NexBank Purchases College Savings Bank

In a move to expand its client base outside Texas, NexBank, SSB, invested an undisclosed amount in the purchase of College Savings Bank, which is based in Princeton, New Jersey. Despite the acquisition, College Savings Bank will not change its name or branding. However, it will operate as a branch of NexBank. Siekielski believes that through this acquisition, NexBank will improve services that it offers to its clients. It will also help families to educate their children up to the university level by saving for college.

Categories: Financial Institution