Wes Edens Invests in Natural Gas
Westley Edens, or Wes Edens, is a chief investment officer for private equity and a co-founder of Fortress Investment Group. His company has investments in healthcare, financial services, real estate, transportation and infrastructure. In 1984 he earned a Bachelor degree in Business Administration and Finance. Before founding Fortress Investment Group, Edens was a BlackRock Financial Management and Lehman Brothers partner. When Springfield Financial Services was bought by Fortress Investment Group, The Wall Street Journal called Eden’s the “New King of Subprime Lending”. When he is not working, Wes Edens is spends his time watching or attending sports games. He is a huge sports fan and bought the Milwaukee Bucks, with help from his partner, in 2014. Read this article about Wes Edens at Wall Street Journal
As a leader of Fortress Investment Group, Wes Edens is constantly looking for new investments opportunities. In a recent article posted by Dailyforexreport.com, Fortress Investment Group has expanded their liquid natural gas projects. Already one of the leading companies dealing with gas-to-power, it is projected that their new NASDAQ initial public offering (IPO) will be greater than $100 million. This IPO, titled New Fortress, will be under the control of Wes Edens and will be focused on creating infrastructure and supplying natural gas to Jamaica. This project already has terminals in Jamaica, Ireland, Mexico, and Puerto Rico. There are plans to add 10 more facilities in the next five years. Current estimations for this new project are around $184 million.
New Fortress has not yet set an exact date for when they estimate the project will be completed. However, it will be breaking new ground as it will be Baja California Sur’s first natural gas supply. This new terminal with cut energy costs to surrounding power plants by upwards of 30% and will provide numerous new jobs to the area. New Fortress plans on working with local industries to make sure their project has the greatest possible benefit for the local communities. To make sure everything runs as smoothly, Edens has partnered with Golar LNG to make usre of their floating storage services. These storage tanks will help pipe the natural gas from one location to another. This partnership will last at least 15 years.