A Year of Change for Fortress Investment Group

Fortress Investment Group was founded by Rob Kauffman, Wesley R. Edens and Randal Nardone in 1998. It is an investment firm in New York that deals with investment management, credit funds, railroads, and traditional asset management. It has a total of 2,533 employees and a net income of US$ 180 million.

Fortress Investment Group’s great year 2018

2018 was marked as a year of transition for the company after two decades of quality leadership and impact making in the investment industry. The company integrated with a prominent financial institution, the Softbank Group Corporation. A purchase of $3.3 billion was made from the deal. This improved the participation of Fortress Investment Group in the real estate and private equity funds sectors which oversaw global assets of $40 billion. These assets are managed by Randal Nardone, Wes Edens from New York and Peter Briger from San Francisco.

Softbank is a company with a mission to finance and support the revolution of information in companies such as Sprint and Alibaba. It also has a vision in providing financial support for large-scale projects such as artificial intelligence and robotics backed up by great tech companies Apple and Qualcomm. From this integration, Fortress Investment Group has enlarged its portfolio with its affiliate; New Senior Investment Group and Fortress Transportation in senior housing, infrastructure investments, and real estate.

The progress they have made

The experience of the company in real estate has been integrated with Softbank to oversee more investments in the construction company Katerra, OpenDoor and WeWork. Partnering L & L holding company and Maefield Development, the company is supporting the development of New York’s Time Square, an entertainment hotel that stands on the worlds most visited destination. It is expected to hold activities such as virtual reality (VR) hubs, sports events, and the attraction of tourists.

The company purchased Tiffany & Co. building along Florida’s Palm Beach. The building was bought for $20 million and is expected to hold the current tenants on the ground and first floor and introducing class A offices on the second floor. The company has also invested in Southern Florida by buying SuperValu distribution center in Pompano Beach worth $66.4 million. The company has also partnered with iPass, a company that provides mobile connectivity in most parts of the world. The partnership is expected to support the company’s SmartConnect and very-FiTM product lines. Indeed, it has been a year of impact and change to the Fortress Investment Group.

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