Fortress Investment Group Makes A Key Investment In iPass

Fortress Investment Group has been making key investments in various companies and business sectors for over two decades. The firm is led by some of its founding principles, which include Wes Edens, Randal Nardone, and Peter Briger. Fortress recently made the decision to invest in iPass, which is a leading global provider of wifi and internet. The investment came in at $29 million, and $10 million of the money will be available for iPass to use immediately. It is expected that the investment will help the company to be able to refocus its efforts on growing its revenue.

Fortress Investment Group moved forward with the loan due to iPass’s many different assets. The company runs the largest Wi-Fi network in all of the world, and this allows businesses and everyday people to access the internet near one of its millions of global Wi-Fi hotspots. Its Wi-Fi services allows people to access the internet at train stations, hotels, airports and many other locations. There are now more than 300 million Wi-Fi hotspots in locations all around the world thanks to iPass. Read more at gazetteday.com

In 2017, Fortress Investment Group raised close to $3 billion, which has continued to fuel its growth. Years before this, the firm was named the “Institutional Hedge Fund Manager of the Year,” and the company has won many other awards over the years. Fortress is expecting iPass to be able to take the $20 in funding and use it to become more profitable in a smaller amount of time than was previously expected.

Fortress Investment Group was purchased by SoftBank recently for $3.3 billion. The move was unexpected as SoftBank has focused most of its efforts on the technology industry. While SoftBank has invested in many different startups over the years, it would now like to focus on creating an alternative asset segment. SoftBank has decided to also develop SoftBank Financial Services in London, which is being led by Rajeev Misra. The financial company has 1,000 employees on its payroll and is looking to grow. Fortress Investment Group will continue to take care of its own business as this was written into the acquisition deal. Source: https://patch.com/new-york/new-york-city/force-innovation-two-decades-fortress-investment-group