4 ms·
Fortress made a fortune in the MBS market. They aren't experts in biotech, but they are very deep in asset backed loans. This isn't "Let's fund a unicorn" situ
by mathattack 9y ago
Fortress made a fortune in the MBS market. They aren't experts in biotech, but they are very deep in asset backed loans. This isn't "Let's fund a unicorn" situation, it's "Let's get an above market return on a loan where we can claim assets in excess of principal if it goes belly up" situation. The real question is "What are those assets?" but the investment wouldn't be made if they weren't there.
- unchocked 9y agoThey've got that fly-ass building in Palo Alto, do they own it? Looks to be worth close to $100M right there. (Seeing a basically pre-revenue company build that thing was in retrospect a good tip-off that it was a scam.)
- mathattack 9y agoNaming stadiums and building fancy headquarters can be a tip-off. Look at 3com.