The Fortress Investment Group has been one of the most versatile investment groups around. They have a model that allows them to invest in some of the most promising areas while still maintain a grip on their permanent investment vehicles that they have nurtured into what they are today.
This was the reason why antennas went up when it emerged that they had invested 20 million dollars in ipass. Ipass is a Wi-Fi hotspot provider that has also recently expanded into cloud services while also holding onto a number of other patents. This group has over 340 million hotspots all over the world making them one of the largest hotspot providers in the world.
The Fortress-ipass deal would be anchored on this, and other merits and as such they are both very confident that the deal is an enabler of even bigger things to come in the future. The deal will be secured by assets held by ipass including their patents while at same time Fortress will be at hand to ensure that their investment is steered in the right direction.
Out of the 20 million dollars invested, 10 million is available from the onset, and this is one of the reasons why ipass was eager to have the deal done. Over the years the Fortress Investment Group has come to invest in a number of other areas including the private passenger rail network.
This was achieved through Brightline, a company that falls under their transport and infrastructure investment portfolio. The private passenger rail has not only helped Fortress Investment Group meet their bottom line by has enabled them to transform the lives of commuters in the various areas they have invested in. In 2017 they raised 2.9 billion dollars as part of their ongoing line of funding which would go into the expansion of investments in various sectors within their portfolio.
This has made Fortress Investment Group one of the most consistent private equity funds, and it was thus not a surprise when they got a lot of interest from Softbank the Japanese investment bank. The deal to acquire Fortress was approved in 2017 by shareholders and returned the group to private hands.