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Fortress Transportation eyes $100m IPO

7 Jan 2014

infrastructure4_lrgInvestment firm Fortress Investment Group’s transportation infrastructure fund has filed to raise $100m via an IPO.

Fortress Transportation and Infrastructure Investors is looking to float on the New York Stock Exchange, according to a document filed with the US Securities and Exchange Commission.

The company had total assets of $292.7m and equity capital of $211.7m as at the end of September last year.

Barclays and Deutsche Bank are acting as lead underwriters for the IPO, the filing showed. Fortress did not specify how many shares it was looking to offer and at what price.

The company saw its net income climb to $14.2m in the three month period to end September from $2.9m a year earlier.

It said that it will use the IPO proceeds to acquire assets in its target sectors including aviation, offshore energy and shipping containers and in other segments of the transportation infrastructure industry.

In February last year AltAssets reported that Fortress Worldwide Transportation and Infrastructure Investors fund had raised $341m.

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