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.