Fortress Investment Group is an alternative asset investment group founded by Wes Edens, Peter Briger and Randall Nardone. Fortress Investment Group works in the areas of private equity funds, credit funds and capital investments.
One of the Fortress Investment Group projects that is under the leadership of Wes Edens is the Brightline train project. In addition to his role with Fortress, Mr. Edens is the owner of the Milwaukee Bucks basketball team, and he has an ownership stake in the Aston Villa Football Club in England.
The Brightline train is a privately-owned commuter railway. It is the only such business in the United States at this time. The Brightline’s first route was built to connect the cities of West Palm Beach and Fort Lauderdale.
Based on the success of that initial route, Brightline service was expanded to include the city of Miami. Due to this expansion, many of those who formerly had to face a horrible commute to and from work by car now have an additional transportation option.
Trains depart from as early as 6:00 am with final departure times occurring around the 11:00 pm time period. With the trains travelling up to 80 mph, the trip between Miami and Fort Lauderdale is roughly 30 minutes.
Fortress Investment Group and Wes Edens have a vision to expand the Brightline service to other areas of Florida and to other area of the United States. One of the routes currently being discussed is a Brightline route between Miami and Orlando.
Other Brightline routes under consideration are service between Dallas and Houston, between Chicago and St. Louis and between Charlotte and Atlanta. A route was considered between Milwaukee and Chicago, but that is no longer in the foreseeable future.
Those who are currently served by the Brightline train service are pleased to have a faster transportation option on heavy traffic days. Many in the area are also pleased that the addition of commuter rail to the Miami area has helped to bring an increase in local real estate prices.
Over the coming months and years, it will be interesting to watch the development of this investment. Fortress Investment Group is poised for another successful business venture.