In a recent interview, Wes Edens spoke about the common characteristics of certain journeys that we all encounter. These are routes that are too short to fly, but too long to drive. During this interview, he mentioned the various routes that are economically viable yet underserved by private railroads. The impact of tariffs on the price of future projects came up, but Wes Edens remained optimistic that they would still be doing more. This was all after the launch of the new project the Miami and Fort Lauderdale private railroad train introduced by Brightline.
Brightline is a subsidiary of The Fortress Investment Group, which currently has more than 43.6 billion dollar assets under management. Under their Permanent Capital Vehicles Fortress has a division that is responsible for Transport and infrastructure. Under this division, Wes Edens was able to bring in Brightline which currently has its operations based in Florida but looking to expand to other states. Fortress also invest in other areas as they own large stakes in publicly traded companies which significantly contribute to their overall cash flow. In 2007 Fortress became a publicly traded company and at the time it was performing so well that the value of its share skyrocketed, making some of its co-founders including Edens billionaires.
Softbank recently acquired Fortress investment group taking it from a public company to private again. Wes Edens noted that the outlook of most investors had become short-term and as such, they were now more than ever looking to cash in quickly on any investment they made. He, however, noted that since the purchase in 2017 Fortress has had the best 12 months in a row and this shows that deal was exactly what the group needed. Fortress coming under one owner have simplified the job for him as a Co-CEO as now the need to go and pitch to investors has been eliminated, which leaves him with the sole task of continuously looking for new investments. The leadership at Fortress, however, remains unchanged even with a new owner as they have over the years proven, fully capable of steering the group to greater heights.
To learn more:https://www.bbc.com/sport/football/44901531