Fortress Investment Group has entered into a deal with hot spot company iPass. iPass has taken a twenty million-dollar investment from Fortress to convert itself to a cloud business. The company owns the largest collection of Wi-Fi hot spots in the world. That number is set to triple this year. As connectivity becomes more important in a digital world, many forward-thinking companies have already invested in hot spots. Giving consumers access to free Wi-Fi anywhere. iPass is of the same ilk but the staggering number of hot spots it has means a greater saturation. Airports, hotels, train stations, restaurants, convention centers, and outdoor entertainment venues will all be included in the 340 million spots iPass will manage. The connectivity will be highly valuable to corporations and individuals alike. Fortress Investment Group has given iPass $10 million up front with the rest forthcoming. Their partnership allows them a piece of the hot spot market, and also provides another example of their investment genius.
Since its founding Fortress Investment Group has sought out of the box investments. The alternative asset firm puts money in many future prospects, prospects that do not just stop at an initial investment. Prospects that have the ability to forge forward and become future markets. Another example is the Brightline private-owned passenger rail in Florida. The rail, a project by Fortress Investment Group founder Wes Edens, creates a thirty-minute commute between Miami and Fort Lauderdale. It offers many luxuries in its travel. Comfortable seats, free Wi-fi, charge slots for portable devices, and even food service. It is designed for the regular commuters who have to make the thirty-minute trek daily. The line avoids traffic, saves on gas, and provides a less carbon-printed public travel system. Edens looks at Brightline to be the first of many, creating efficient and fast commutes between neighboring cities. The line is in tune with Fortress Investment’s groups strategy as it looks towards an expanding future. It is one more reason why the firm is a successful player and brings investors large percentages in returns.
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