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New Fortress Energy
New Fortress Energy (NFE) was founded by Wes Edens, co-founder of Fortress Investment Group, though the company operates as a publicly traded energy...
New Fortress Energy
New Fortress Energy (NFE) was founded by Wes Edens, co-founder of Fortress Investment Group, though the company operates as a publicly traded energy infrastructure firm rather than a family office. The firm is structured as a corporation (NASDAQ: NFE) and focuses on providing end-to-end liquefied natural gas solutions, from liquefaction and shipping to regasification and power generation. The company builds and operates LNG import terminals, gas-fired power plants, and floating LNG (FLNG) vessels. Its asset portfolio spans Brazil (Barcarena and Santa Catarina terminals and power plants), Mexico (Altamira Fast LNG hub and Baja California Sur facility), Puerto Rico (San Juan LNG facility and power contracts), Ireland (Shannon LNG project), and the US Gulf of Mexico. In 2023, NFE signed a 15-year power purchase agreement in Brazil and began construction on a 1.6 GW power plant there (per the firm, 2023). The company also formed a $2 billion LNG maritime joint venture with Apollo funds, Energos Infrastructure, which closed in 2022. NFE employs a capital-intensive, vertically integrated model; it holds hard assets including LNG carriers, storage units, and power stations. The firm operates through subsidiaries like Genera in Puerto Rico and maintains a community foundation. In April 2024, NFE announced the sale of its Jamaica assets to Excelerate Energy. team size is not disclosed. NFE's structure is distinct from family offices or traditional asset managers because it functions as a publicly traded energy company with a single-purpose focus on LNG infrastructure. Its mandate combines project development, ownership, and operations, with the principal's significant ownership stake aligning with shareholders.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Wes Edens
Founder and CEO
Sector focus
Frequently asked questions
Is New Fortress Energy a family office?
No. New Fortress Energy is a publicly traded corporation (NASDAQ: NFE) focused on LNG infrastructure. Its founder Wes Edens also co-founded Fortress Investment Group, but NFE itself operates as an operating company, not a family office or asset manager.
What does New Fortress Energy actually own and operate?
NFE owns LNG import terminals, gas-fired power plants, and a fleet of floating LNG (FLNG) vessels. Current assets include facilities in Puerto Rico, Brazil (Barcarena and Santa Catarina), Mexico (Baja California Sur and Altamira), and the US Gulf of Mexico, plus a planned project in Ireland (per the firm).
How does New Fortress Energy make money?
NFE earns revenue through long-term gas supply contracts, power purchase agreements, and LNG sales. It builds and operates the entire value chain — from liquefaction to power generation — and charges utilities and industrial customers for delivered gas and electricity.
Who controls investment decisions at New Fortress Energy?
Founder and CEO Wes Edens leads the company. Strategic and capital-allocation decisions are made by its board of directors and executive management, consistent with a publicly traded corporation. NFE’s filings with the SEC detail conflicts of interest between Edens’ roles at NFE and Fortress Investment Group.
What is New Fortress Energy's relationship with Fortress Investment Group?
Wes Edens co-founded Fortress Investment Group in 1998 and remains co-chairman. New Fortress Energy was founded by Edens and is separate from Fortress, though some early NFE assets were originally held by Fortress-controlled funds. The two entities have disclosed related-party transactions in NFE's SEC filings.
Does New Fortress Energy invest in other companies or funds?
No. NFE develops, owns, and operates its own infrastructure assets. It does not make passive investments in external funds or third-party companies. The joint venture with Apollo (Energos Infrastructure) was an asset-level partnership, not an investment vehicle for external capital.
What is the AUM or market capitalization of New Fortress Energy?
As a publicly traded company, NFE does not report AUM. Its market capitalization fluctuates based on stock price. The company reported $3.6 billion in total assets as of year-end 2023 (per SEC filing), and its enterprise value is tied to its project portfolio and earnings.
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