Fortress Investment Group (FIG), which is one of the world’s bigger managers of alternative assets, was co-founded by Randal Nardone in 1998. Fortress Investment Group has been able to time its spin-off of many companies, which has helped FIG increase its net worth over almost two decades. FIG, as noted by Randal Nardone was not fully ready for being purchased by Softbank. Randal Nardone was also quoted as stating that he had hoped that SBG had had the funds to make the other firms profitable in regards to all the parties that were involved in Softbank’s deal.
Randal Nardone has had prior experience working as a managing director for UBS. IN addition to working UBS, Randal Nardone had made Principal at the finance company, Blackrock Financial Management. Nardone was also a partner and an executive council member at the law firm, Thatcher Proffitt & Wood.
Softbank Group Corp (SBG), bought Fortress Investment Group for 3.3 billion dollars in cash in late 2017. Softbank Group Corp, which is headquartered in Tokyo, Japan, did not change any of the executive positions of Rob Kauffman, Wesley Edens, and Randal Nardone’s executive roles at FIG.
Some of the corporate assets that FIG had a part in managing included New Senior Investment Group, Fortress Transportation, New Residential Investment, Drive Shack, New Media Investment Group, Brookdale Senior Living, Rail America, and New Residential Investment.
As a CEO of a company that manages many other corporate accounts, Mr. Nardone has responsibilities by working on the board of directors of these companies. Mr. Nardone is currently on the board of directors of Eurocastle Investment Limited, Brookdale Senior Living, Inc., and also Alea Group Holding Ltd. Besides being on the board of directors of Newcastle Investment Holdings he is also Secretary and V.P.
Nardone was ranked on the Forbes list of World’s richest at number 558 in 2007 at the age of 51. Nardone’s estimated net worth was approximated at 1.8 Billion dollars in 2007.
Regarding Nardone’s education, he attended the University of Connecticut where he earned a bachelor’s degree and a Jurist Doctor from Boston University.