20 Million dollars line of credit extended by the Fortress Investment Group promises to rejuvenate ipass

The Fortress Investment Group is an asset management group that has been known for making a number of formidable investments in diverse sectors. They employ a technique that enables them to take on opportunities that may seem far-fetched or utterly different from each other, but this is what enabled the group to return 39 percent in their five years of existence even at a time when others seemed to be lagging. They had begun operations in 1998 and had managed to grow their portfolio of assets under management from 400 million to 3 billion dollars within that time. This meant that they became one of the most analyzed and followed private investment groups. They were making investments guided by their ability to finance them, and this was the time they realized a need to establish a credit division that would help them grow their portfolio using credit lines rather than relying only on private equity. The three founding partners brought Peter Briger from Goldman Sachs to help nurture this new division. His input would be critical given his experience in the same at Goldman one of the biggest banks in the country. His impact would be immediately felt as he moved quickly to grow San Francisco headquartered division into one capable of doing deals worth more than a hundred billion dollars to date. The department has also been very instrumental whenever the Fortress Investment Group has done a round of funding such as the one done in 2017 which raised 2.9 billion.

Fortress Investment Group recently invested twenty million in ipass. Ipass is considered the largest Wi-Fi provide in the country and on the globe given its more 340 million hotspots spread across the globe. This investment would see Fortress advance the loan to ipass and assets held by the company would secure it. The smartconnect technology was especially critical to this deal. This investment would be given in batches with the initial 10 million dollars available from the word go. This would help ipass grow and continue growing its presence across the globe. The Fortress Investment Group is confident that the deal will pay off even before its due.

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