SoftBank to acquire Fortress Investment

Some of Fortress Investment Group’s transportation-related holdings include Florida East Coast Railroad, Trac Intermodal, and Seacube Container Leasing.    SoftBank Group Corp. said it had entered into an agreement to acquire Fortress Investment Group LLC for approximately $3.3 billion in cash.
   Fortress is a highly diversified investment company with $70.1 billion in assets under management as of Sept. 30, 2016.
   Some of its transportation-related holdings include Florida East Coast Railroad (FECR), Trac Intermodal, and Seacube Container Leasing. It was formerly the owner of the short-line railroad company RailAmerica, which it sold to Genesee & Wyoming in 2013.
   American Shipper profiled FECR and its interests in liquified natural gas – both as a locomotive fuel and a commodity to transport for customers – in its December 2015 issue. The short-line railroad, which operates an on-dock ship-to-rail intermodal facility at PortMiami, runs from the South Florida gateway to Jacksonville, Fla., where it connects with mainline Class Is CSX and Norfolk Southern.