As the CEO of Fortress Investment Group, Randal Nardone Helped Turn His Finanical Firm Into A Company Paying Serious Dividends

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.

Randal Nardone the Gear-shifte

Randal Nardone
Fortress Investment Group was founded by Randal Nardone, Peter Briger and Wes Edens

Randal Nardone is the Co-Founder, Chief Executive Officer and Principal at Fortress Investment Group. Apart from this position, he has been associated with BlackRock Financial, and he has been a partner at a law firm; Thatcher Proffit & Wood and as well worked at the Swiss Banks. While working as a lawyer,Randal Nardone realized that this field could inter-relate with the financial sector and it was from there he gained the confidence to venture into business. In that case, it means that he gained a lot of experience with finances despite having ventured into law initially before getting into entrepreneurship wholly. Irrespective of being aware of the competition he was going to face in the business world and precisely the field he chose, Randal Nardone was not afraid as long as he knew how to handle the challenges he faced. With his experience and expertise from his previous affiliations with financial institutions, it was easy for him to deal with clients efficiently to their satisfaction and therefore became repetitive customers hence the rapid growth of the company. He holds a Bachelor of Arts and Science from the University of Connecticut and Doctor of Jurisprudence from the University of Boston. His switch from the legal field to the working in the financial industry did not disappoint him which is evident in his current achievements.

Randal Nardone ranks number 557 in the Forbes Billionaire list which explains his wealth to the extent of being recognized worldwide. His stake in Fortress Investment Group is where his wealth is linked to, and his net worth is said to be $1.8 Billion while he has earned other cash compensation to the tune of $100,000,000. Under his remarkable management as CEO of Fortress Investment Group, the company received the Hedge Fund Manager of the Year award. Additionally, the company was awarded the Management Firm of the Year, and it has as well been acknowledged and commended by the institutional investor as the Discretionary Macro-Focused Hedge Fund of the year in 2012. Consecutively as well, in the year 2010 and 2011, the company was recognized as Credit Focused Fund of the year. With these kinds of awards, it is evident that Randal Nardone’s contribution in the company has been substantial over the years. Under his management as well, the company has managed to get acquired by SoftBank Group for $ 3.3 Billion which is a massive achievement for all those involved and more