Industrials › Services-Miscellaneous Equipment Rental & Leasing
FTAI Stock Price Correlated With FTAI Aviation Financials
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Income Statement
Cash Flow
Balance Sheet
FTAI Income Statement
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FTAI Cash Flow
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FTAI Balance Sheet
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COMPANY PROFILE
ORGANIZATION
Fortress Transportation and Infrastructure Investors LLC (the “Company”) is a Delaware limited liability company which, through its subsidiary, Fortress Transportation and Infrastructure General Partnership (the “Partnership”), is engaged in the ownership and leasing of aviation equipment, offshore energy equipment and shipping containers, and also owns and operates a short line railroad in North America (“CMQR”) and a multi-modal crude oil and refined products terminal in Beaumont, Texas (“Jefferson Terminal”). The Company has five reportable segments, Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal and Railroad, which operate in two primary businesses, Equipment Leasing and Infrastructure (Note 15).
At March 31, 2015 and December 31, 2014 , through their investment in the Company, the beneficial owners of the Partnership were Fortress Worldwide Transportation and Infrastructure Investors LP (the "Onshore Fund"), with an 89.97% interest and Fortress Worldwide Transportation and Infrastructure Offshore LP (the "Offshore Fund") with a 9.98% interest; in addition Fortress Worldwide Transportation and Infrastructure Master GP LLP (the "Master GP") holds a 0.05% interest. The Master GP is owned by an affiliate of Fortress Investment Group LLC (“Fortress”). The Onshore Fund and the Offshore Fund (collectively the "Initial Shareholders") are investment vehicles which are sponsored by Fortress. The general partner of the Onshore Fund and the Offshore Fund is owned by an affiliate of Fortress.
The Master GP is entitled to an incentive return (the “Incentive Return”) generally equal to 10% of the Partnership’s returns (before certain taxes), as defined, subject to: i) an 8% cumulative preferred return payable to the Onshore Fund and Offshore Fund investors and ii) a clawback provision which requires amounts previously distributed as Incentive Return to be returned to the Company for the benefit of the Onshore Fund and Offshore Fund investors (after adjusting for tax in accordance with the partnership agreement) if, upon the termination of the Company, the amounts ultimately distributed to the Master GP exceed its allocable amount.
As of March 31, 2015, the Company was managed by FIG Transportation Fund Management LLC (the “Manager”), an affiliate of Fortress, pursuant to a management agreement (the “Management Agreement”) which provides for the Partnership to bear obligations for management fees and expense reimbursements payable to the Manager (Note 14). In May 2015, in connection with its initial public offering (the "IPO"), the Company entered into a new management agreement with FIG LLC, which replaced the existing management agreement. Pursuant to the new management agreement, FIG LLC or its affiliate will receive a monthly management fee and reimbursement for certain expenses incurred (Note 14). Additionally, in May 2015, the partnership agreement of the Partnership was amended whereby, among other things, the existing Incentive Return arrangement for the Master GP was revised to specify that the entitlement to certain incentive distributions be based on the consolidated net income in excess of certain hurdle return targets and capital gains income of the Partnership, subject to certain adjustments, as defined, before any amounts are distributed to the Company (Note 18).
At March 31, 2015 , the aggregate capital commitments of the investors of the Onshore Fund, Offshore Fund and Master GP, which are designated for investment in the Partnership, were approximately $995,497 , of which approximately $761,180 had been called.
In April and May 2015, the remaining capital commitments of the investors of the Onshore Fund, Offshore Fund and Master GP were called. In May 2015, 53,502,873 common shares were issued to the Onshore Fund and Offshore Fund based on their relative interests in the Company. Immediately prior to the consummation of the IPO, the Master GP contributed its rights to p
Fortress Transportation and Infrastructure Investors LLC (the “Company”) is a Delaware limited liability company which, through its subsidiary, Fortress Transportation and Infrastructure General Partnership (the “Partnership”), is engaged in the ownership and leasing of aviation equipment, offshore energy equipment and shipping containers, and also owns and operates a short line railroad in North America (“CMQR”) and a multi-modal crude oil and refined products terminal in Beaumont, Texas (“Jefferson Terminal”). The Company has five reportable segments, Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal and Railroad, which operate in two primary businesses, Equipment Leasing and Infrastructure (Note 15).
At March 31, 2015 and December 31, 2014 , through their investment in the Company, the beneficial owners of the Partnership were Fortress Worldwide Transportation and Infrastructure Investors LP (the "Onshore Fund"), with an 89.97% interest and Fortress Worldwide Transportation and Infrastructure Offshore LP (the "Offshore Fund") with a 9.98% interest; in addition Fortress Worldwide Transportation and Infrastructure Master GP LLP (the "Master GP") holds a 0.05% interest. The Master GP is owned by an affiliate of Fortress Investment Group LLC (“Fortress”). The Onshore Fund and the Offshore Fund (collectively the "Initial Shareholders") are investment vehicles which are sponsored by Fortress. The general partner of the Onshore Fund and the Offshore Fund is owned by an affiliate of Fortress.
The Master GP is entitled to an incentive return (the “Incentive Return”) generally equal to 10% of the Partnership’s returns (before certain taxes), as defined, subject to: i) an 8% cumulative preferred return payable to the Onshore Fund and Offshore Fund investors and ii) a clawback provision which requires amounts previously distributed as Incentive Return to be returned to the Company for the benefit of the Onshore Fund and Offshore Fund investors (after adjusting for tax in accordance with the partnership agreement) if, upon the termination of the Company, the amounts ultimately distributed to the Master GP exceed its allocable amount.
As of March 31, 2015, the Company was managed by FIG Transportation Fund Management LLC (the “Manager”), an affiliate of Fortress, pursuant to a management agreement (the “Management Agreement”) which provides for the Partnership to bear obligations for management fees and expense reimbursements payable to the Manager (Note 14). In May 2015, in connection with its initial public offering (the "IPO"), the Company entered into a new management agreement with FIG LLC, which replaced the existing management agreement. Pursuant to the new management agreement, FIG LLC or its affiliate will receive a monthly management fee and reimbursement for certain expenses incurred (Note 14). Additionally, in May 2015, the partnership agreement of the Partnership was amended whereby, among other things, the existing Incentive Return arrangement for the Master GP was revised to specify that the entitlement to certain incentive distributions be based on the consolidated net income in excess of certain hurdle return targets and capital gains income of the Partnership, subject to certain adjustments, as defined, before any amounts are distributed to the Company (Note 18).
At March 31, 2015 , the aggregate capital commitments of the investors of the Onshore Fund, Offshore Fund and Master GP, which are designated for investment in the Partnership, were approximately $995,497 , of which approximately $761,180 had been called.
In April and May 2015, the remaining capital commitments of the investors of the Onshore Fund, Offshore Fund and Master GP were called. In May 2015, 53,502,873 common shares were issued to the Onshore Fund and Offshore Fund based on their relative interests in the Company. Immediately prior to the consummation of the IPO, the Master GP contributed its rights to p
Free historical financial statements for FTAI Aviation Ltd.. See how revenue, income, cash flow, and balance sheet financials have changed over 39 quarters since 2015. Compare with FTAI stock chart to see long term trends.
Data imported from FTAI Aviation Ltd. SEC filings. Check original filings before making any investment decision.