Randal Nardone: The Pillar of Success at Fortress Investment Group
Randal Nardone is the Co-Founder and CEO of Fortress Investment Group, a leading investment management firm. He was appointed to the firm’s board of directors in 2006. Since the founding of the alternative asset manager in 1998, Mr. Nardone has been part of its management committee.
The senior executive at Fortress also serves in prestigious positions in a number of Fortress Investment Group’s subsidiaries such as leadership position at FMA LLC, Eurocastle Investment, Seacastle, Impac Commercial Holdings, FM Falstaff Advisors, FIG LLC, Newcastle Investment Holdings and Florida East Coast Railway. In 2007, Randal Nardone was featured in Forbes Magazine’s World Billionaires list ranking No. 557.
Randal Nardone graduated with a BA from University of Connecticut and a JD from Boston University School of Law. He has been very instrumental in determining the strategic direction of Fortress Investment Group. Fortress started as an equity firm in 1998 and it grew rapidly in the hands of Wes Edens, Randal Nardone and Peter Briger to become a global investment management firm managing assets worth over $40 billion on behalf of over 1500 investors across the world.
Prior to joining Fortress, Mr. Nardone served as a managing director at UBS as well as a principal at BlackRock Financial Management. Earlier on, he worked at Thacher Proffitt & Wood law firm as a partner. His experience in the investment sector spans wide and far working in many firms in various capacities. What won’t go unmentioned, however, is the contribution he made to the growth of Fortress which started with an initial investment of $400 million. In 10 years, the company had started trading its shares publicly making it the first investment management firm to go public in the United States. Currently, the company is valued at over $3 billion and recently, it was acquired by SoftBank for $3.3 billion and more
SoftBank had earlier focused on tech companies and this acquisition deal came as a surprise. It is in line with its mission to lead in the world of investment management. Fortress Investment Group continued with its operations normally in the wake of the acquisition and its founding principles led by Randal Nardone stated in a statement that it is a new dawn for the company as it embarks on a new path. They are embracing the challenges and opportunities of the world market by joining forces with SoftBank.