Fortress Investment Group is private equity firm. The company went completely public in 2007. When the Group decided to expand into hedge funds there was a large grow in investments. They were also the first large private equity firm to publicly trade in the United States. The Group was founded by Peter Briger, Randal Nardone, and Wes Edens in the year of 1998. Their headquarters are in New York. However, the Fortress Investment group was bought by Japan’s SoftBank Group in the year of 2017, although, the headquarters are still located in New York despite the new owners. The Group has had so much success in their field in 2014 they were given the award for Management firm of the year and multiple more awards.
The Fortress Investment Group has been expanding in many areas where they own businesses or buildings. In February the group bought Palace Theater located in New York. When they purchased the theater, they partnered with Maefield Development. Maefield Development’s original plan was to build immediately, however, they had encountered many issues in the process. Therefore, instead of building in 2012 they did not break ground until the year 2015. The Fortress Investment Group changed their contract from a silent partner to full ownership. However, this should make Times Square even more of a tourist attraction that is not the only area in which the Group wants to expand.
The Fortress Investment group is also expanding a train route from Miami to Orlando. the group owns a company named Brightline. The company Brightline is expanding the train route in hopes to reduce the use of cars in the area. Traffic seems to slow down greatly in most of the areas that the train route crosses and the company claims that the train route is a faster than taking a vehicle on the interstate. The average car goes 34 miles per hour on interstate 95, however, when taking the train route, the train can reach up to 79 miles per hour on that route. Therefore, it will be a more productive option to take the train. This addition, factually, is a better option than taking a car.
The Fortress Group is making growth not only for them but also for the public.