Fortress affiliate files for $100M IPO

|About: Fortress Investment Group... (FIG)|By:, SA News Editor

Fortress Transportation & Infrastructure Investors, an affiliate of Fortress Investment Group (FIG), has filed to raise $100M in an IPO on the NYSE.

Fortress Transportation mainly invests in aviation, offshore energy and shipping containers; its nine-month net profit rose to $14.2M from $2.9M while revenue more than tripled to $12.1M.

The company plans to use the proceeds from the listing to acquire new infrastructure assets and for working capital. (S-1)