Fortress Investment Group has been involved in a number of significant deals within the past year. It has recently completed a deal with a technology company called iPass. The firm has given iPass up to $20 million in funding. Fortress Investment Group has provided iPass with $10 million that it can access immediately. Gary Griffiths of iPass has been very happy with this latest deal. He has mentioned that iPass can now focus on increasing its revenues as well as becoming more profitable in the near future. In order to help make this deal work, Griffiths stated that iPass has used its patents as the security. These patents include the products iPass SmartConnect and Veri-Fi.
In order to secure the loan from Fortress Investment Group, iPass had to use some of its assets. It has used one of its top assets such as SmartConnect. This has allowed iPass to ensure that it gets the funding it needs from Fortress. As well as collaborating with Fortress, iPass has also been assisted by another investment banking firm. Riley Financial helped finance the deal for iPass. This firm is one of the leading investment banks which specializes in capital markets principal investments and valuation and appraisal. Before finalizing the deal with both Fortress and iPass, Riley Financial researched the equity of iPass. With its extensive research, Riley Financial was able to determine that providing funds to iPass was an investment opportunity that will prove to be beneficial.
After completing the recent deal with iPass, Fortress Investment Group will look to continue making significant financial transactions. The firm will continue expanding to other industries and diversity its portfolio of assets. Over the last year, Fortress Investment Group has been involved in a couple of other financial transactions. The firm recently finalized a development in New York City’s Times Square. It will build a skyscraper that will serve as a commercial building for retail space. This will help businesses get needed space to operate. Fortress also completed a rail system in Florida which will allow people to travel between Miami and Tampa on a regular basis. The firm was also acquired by the Japanese technology company SoftBank as well.