Whenever Brightline announces, it’s making a new investment anywhere it’s usually received with a certain level of expectation and joy. This is because they have come to be associated with a certain level of excellence, especially in the private rail business. They recently introduced the Miami-Fort Lauderdale train this was an investment that most residents had been craving. The commute between Miami and Fort Lauderdale is one that takes approximately thirty minutes when there is no traffic, however this is not usually the case at peak hours, and it turns into a two-hour ordeal. The train has also been keen on ensuring that their schedule is within the desirable hours by most commutes running the first train from Miami at 7.10 am while the last one will depart at 11.30 pm.
This schedule was to ensure that every demographic was adequately catered for. This journey will take on average 35 minutes traveling at speeds of seventy-nine miles per hour. The Wes Edens’ Brightline train is part of the larger Brightline group of privately run rails owned by the Fortress investment group. The Group has been known to invest in private rail since the mid-2000’s. The fortress investment group which began in 1998 born of an idea by three investors has become a 1.1 billion revenue-generating firms. The Fortress investment group has grown under the stewardship of its founders and other key leaders that include Peter Briger a man recognized as one of the most influential business persons in America by Forbes Magazine. The current CEO was in charge of the groups IPO with the help of Goldman Sachs and the Lehman brothers.
The group at the time was managing around 72 Billion dollars quite the growth considering that they began the group with about four hundred million dollars. This has seen the Fortress investment group expand its business across Europe, North and South America as well as Asia. Asia has been one of the markets that have seen very first growth with the group opening offices in Singapore and Shanghai China. The Fortress were, however acquired by The Softbank Investment Group, which has been very instrumental in growing the equity available for investment at a time when private equity investments were stagnating. This has been very good for Fortress one of the first Private Equity firms to list on the New York Stock Exchange before it became private again after the Softbank acquisition.