Fortress Investment Group Completes Its Most Recent Deal

Fortress Investment Group has been involved in a number of significant transactions during the past year. It’s most recent deal occurred in the fall of 2018. The alternative asset management firm completed a deal with a technology company called iPass. This company specializes in providing solutions for global connectivity. Fortress Investment Group provided funding for iPass in order to help it achieve its objectives. The firm gave a total amount of $20 million and half of this amount will be available for iPass to use immediately. Fortress sees this opportunity as a major investment in a key industry. Executives at iPass such as the current chief executive officer Gary Griffiths has mentioned that the funding deal will help the company raise its revenues and reach higher levels of profitability. iPass used its SmartConnect and Veri-Fi products in order to secure this funding.

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When Fortress Investment Group finalized the deal it needed iPass to use some of its assets to use as collateral. The company complied by offering SmartConnect in an effort to secure the funding. For both Fortress and iPass to finalize this deal, they relied on an investment banking firm called Riley Financial. This firm is one of the leading financial firms that specializes in completing these types of deals. Riley Financial is one of the top firms when it comes to equity research. The firm used its research in order to determine if iPass was a good company to invest in. After a thorough evaluation, it decided to provide funds to iPass. Riley Financial saw a lot of potential in iPass and determined that it is one of the better investment opportunities.

Fortress Investment Group has been very active in completing a number of other deals over the past year. One of its most recent transactions has been with the tech company known as SoftBank. It was acquired by SoftBank for a sum of over $3.3 billion. This transaction will help Fortress expand its holdings into the technology sector while helping SoftBank expand into the financial sector. Another deal that Fortress recently completed was a train rail system in Florida. Fortress has also arranged development for a skyscraper in Times Square that will serve as a retail space for many businesses.

See more: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=666715

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