Fortress Investment Group has gone into the railway business. Brightline Train, the only private owned passenger rail in the U.S. began its service this past May. The train runs a quick an efficient thirty minute trek between Miami and Fort Lauderdale. The first train leaving Miami at 7:10 in the morning, and the last departing at 11:10 at night. It makes its Miami to Fort Lauderdale trip seven times daily, perfect for regular commuter tired of the lagging, traffic filled auto-commute. Brightline is the newest investment from the private-owned alternative investment group, but Fortress’s plans for the railway are no where near done.
Fortress Investment Group plans to establish a Brightline in multiple U.S. Cities. Taking full advantage of long commutes between sister cities for their location choices. Miami to Fort Lauderdale is perfect because many individuals who live in one city work in the other. Although commuting by car takes the same time as Brighline’s run, freeways become congested in the peak hours of a 9 to 5, granting the railway faster, less stressful passage. It also means saving gas and sparing the vehicle a thirty minute trek. Fortress Investment Group hopes to extend to the current railway itself to accommodate the West Palm Beach Orlando route. At present the company is eyeing treks that would connect Chicago to St. Louis and Atlanta to Charlotte.
So far Brightline has garnered much support and looks to be another accomplished feather in Fortress Groups hat. Fortress Investment Group was founded in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone. The company is based in New York and manages around $70.2 billion dollars in private equity firm, hedge funds, credit funds, and alternative assets. It has invested in a variety of business like Brightline, earning profit from a wide margin of markets. The has over 1700 investors funding it and offers prime returns around 40% from the businesses it builds.
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