Randal Nardone works at the Fortress Investment Group where he is the CEO, Director as well as the co-founder. The company was started in the year 1998, and Randal has served as its CEO since the year 2013. Randal Nardone is also the principal of the Fortress Credit Corporation. Over the years, he has worked hard to climb up the ladder of success. He attended the prestigious Boston University School of Law and acquired Doctor of Jurisprudence. Randal also went to the University of Connecticut and earned bachelor’s degree of arts in Biology and English. He has earned a reputation as one of the most skilled and successful leaders.
Randal is the vice president at the Newcastle Investment Holdings as well as the president at the Springfield Financial Holdings. In the past, he has served as the managing director and chief operating officer at UBS. He was also a member and partner at the Thacher Proffitt &Wood law firm. Other companies that he is currently involved with include; Eurocastle Investment Limited, Alea Group Holdings Ltd and Brookdale Senior Living Inc among others. Randal was appointed to serve in the board of Fortress Investment Group in 2006. He also established Fortress Investment Fund IV, LP and served as its chief operating officer.
Randal Nardone was a successful lawyer before he decided to change his career into the field of finance. After working with Fortress Investment Group, the company was acquired by SoftBank Group. According to Randal, this was the right step after the company started experiencing slowed private equity investments. SoftBank Group acquired the company through a deal worth $3.3 billion. According to SoftBank, this deal was part of a big strategic plan to bring huge benefits to investors and also to raise the business. Softbank has continued to maintain the good track record that was set by Fortress Investment Group. This is also coupled with its expertise, global investment platform, and leadership.
Randal Nardone has been featured on the Forbes Billionaire list with an estimated worth of $1.8 billion. Currently, Forbes has ranked him on position 557. Part of Randal’s wealth is mostly tied to the stake that he has at Fortress Investment Group. Under the leadership of Randal Nardone, Fortress Investment Group was in 2014 awarded by the Institutional Investor the ‘Hedge Fund Manager of the Year.’ The company has also been recognized as the ‘Credit-Focused Fund of the Year.’
The CEO of Fortress Investment Group, Randal Nardone, recently commented on Softbank’s acquisition of Fortress, stating that he welcomed the deal and believed that it would put the asset management powerhouse on even more solid footing. Softbank, a Japanese banking and financial conglomerate, purchased Fortress Investment Group in a $3.3 billion deal in 2017. However, key Fortress leadership, including co-founder Randal Nardone, as well as the other two co-founders, Wes Edens and Peter Briger, will remain at the helm of the company.
According to Nardone, the Softbank merger promises to drive growth at Fortress, thanks to Softbank’s extensive credit network. He is proud to have been on the ground floor of the first publicly traded hedge fund and is excited that Fortress will continue to innovate with Softbank as a partner.
Randal Nardone is an attorney by training, having received his law degree from Boston University. He also holds an undergraduate degree in biology and English from the University of Connecticut. After becoming partner at a prestigious law firm, Nardone entered the financial world as a principal at BlackRock Financial Management, and later became a managing director at UBS AG. He left UBS to help co-found Fortress Investment Group in 1998.
The successful financier is listed as billionaire no. 557 on Forbes’ List of Billionaires. Nardone serves on several boards, including those of Eurocastle Investment Limited, Springleaf Finance Corporation and Springleaf Finance Inc. In addition, he is a former member of the board of directors of Alea Group Holdings, GAGFAH S.A., and Brookdale Senior Living, Inc.
Randal Nardone is committed to the continued success of Fortress. In fact, the CEO and the other principals have agreed to re-invest the proceeds of the sale into Fortress funds in order to stimulate the company’s expansion. The future is bright for Fortress Investment Group under Nardone’s leadership.
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