New York City-based Fortress Investment Group recently added on to its investment strategy. It is now offering its investors totally secured investments. This started when they lent iPass $20 million with immediate access to half that amount. iPass is a company that offers internet connectivity to companies and individuals. President and Chief Executive Officer Gary Griffiths of iPass stated that this loan strengthened his company’s balance sheet and gave it the capital it needs to expand. The loan is secured by patents, intellectual property, and other assets that iPass holds.
The deal was brokered by Riley Financial, Inc. This company offers four financial services: principal investments, auction & liquidation, capital markets, and valuation & appraisal. Riley Financial has years of experience putting together deals like this one between Fortress Investment Group and iPass. It understands the value of equity and saw that iPass’s assets were worth more than $20 million so the loan is fully secure.
iPass offers the biggest Wi-Fi network in the world. It has 64 million hotspots located in places like hotels, train stations, restaurants, stadiums, convention centers, and airports. Each hotspot can be used by an unlimited number of devices. People use an application to gain access to a hotspot. They are using the money provided by Fortress Investment Group to expand the number of hotspots to 340 million.
Fortress Investment Group was formed in 1998 by three like-minded financial professionals. It later became the first alternative asset investment firm to become publicly traded. It seeks to invest its client’s money in assets that offer strong risk-adjusted returns. Investing in iPass fits into this strategy as its services are just going to get more popular over time and more people are working on-the-go. Whether someone is working or on vacation, they will have access to an iPass hotspot.
Another recent investment Fortress Investment Group made was in All Aboard Florida. This is a private rail service firm that has established a route between West Palm Beach and Miami. The project is expected to support growth in the Florida economy as people can get around without spending hours stuck in traffic.
A Force of Innovation: Two Decades of Fortress Investment Group
A team of American and Japanese investors and hedge fund managers, Wes Edens, Randy Nardone, Peter Briger, and Masayoshi Son closed a major acquisition deal the end of 2017. Their goal is to be in a higher level position of capitalization opportunities for harvesting profits and continuous growth in the United States, Japan and international. Fortress Investment Group and SoftBank began working together in January 2018 immediately after SoftBank closed on the acquisition contract. It was a time of transitioning and adapting to the cultural environments of both the entities.
Edens, Nardone, and Briger are Principles of Fortress Investment Group and Masayoshi Son is the CEO and Owner of SoftBank. With Fortress’s leaders experience in assets management and real estate investments, it places SoftBank in the position to explore the real estate market in America. SoftBank already has offices in San Francisco, California and plans to invest $50 billion in the United States. It will create 50,000 jobs to boost the American economy and provide employment opportunities. Fortress Investment Group also has an office in San Francisco which Peter Briger, the head of the Credit Division runs.
SoftBank and Fortress’s Credit Division are in the same location for finances and support purposes. Edens and Nardone works at the headquarters office in New York City and oversees operations of the Permanent Capital Vehicles Division and the Private Equity Division. Per the acquisition agreement, the Fortress Investment Group’s Principles will continue their roles as Co-CEOs and Co-Chairs. They will work with SoftBank on its growth strategies of becoming the largest investment firm in the world.
Wes Edens and Randy Nardone helped establish Fortress in 1998 as a small management firm with only 28 employees and $40 million in capital. Internationally, the firm expanded worldwide and now has over 1,100 employees working in the Caribbean, Europe, and North America. Fortress Investment Group invests in tangible, intangible, undervalued, capital, real estate, distressed, natural resource, and intellectual assets. For nearly 22 years, the private equity company successfully manages hedge, private equity, and real estate funds for high net-worth investors and private individuals.
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Highland Capital Investment company was founded in 1993; it’s an investment company divided into Asset Management, Finance, and Banking Categories. The co-founders of the company include Mark Okada who is the CIO and James Dondero who serves as the president. They have employed other well-trained managers to help run the company. They include; Damon Krtzer the managing director, Andrew Parmentier the chief Strategy Officer as well as the Head of Thematic investing operations, Bran Eden is the Global Head of Marketing and Investor Relations and Trey Parker the co- CIO. Previously the head of marketing and sales was Jess Larsen while Felicia Smith was the Managing Director. Visit jimdondero.com to know more about him.
Highland Investment company has its headquarters based in Dallas, Texas; it specializes with providing credit strategies to the customers. These services include; separate accounts, credit hedge fund, long-only funds, special situations private equity among others. Besides, Highland Capital Investment also offers alternative investments to the clients including natural resources, both long term, and short term equities and emerging markets. Many clients have entrusted the company with their assets worth $17.7 billion. The company has employed many employees to expand their services to various places and meet the needs of the clients at an individual level. Read more at Wikipedia about James Dondero.
Currently, Highland Capital Management is using 11 advanced technologies including Comodo SSL, DNS, SPF and Microsoft Azure for its website. This technology protects the company data from falling into the wrong hands; thus the clients have the assurance that their assets are secure. Recently, Highland Capital Management has purchased the Structural and Steel products company as well as the American HomePatient. Highland company has also raised money to fund these organization’s projects and maintain their financial status.
Highland investment company has announced its monthly dividend payments to its affiliates. This payment is a way of marketing the company to attract more clients.