Randal Nardone – One Of The Key Players Behind Fortress Investment Group

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Randal Nardone is the co-founder, as well as Principal and Director of Fortress Investment Group. He founded the firm in 1998 alongside Wes Edens and Robert Kauffman. The firm started with $400 million in assets and in the span of 20 years it grew and developed into one of the largest investment management firms in the United States.

His impressive academic record consists of a J.D. degree from Boston University School of Law, and a B.A. in English and Biology from the University of Connecticut. His education led him to different roles within the financial market. Prior to founding Fortress, Randal Nardone acted as a Principal at Black Rock, and early in his career he was part of the executive committee at the Thacher Proffitt & Wood law firm. He was also a Managing Director from 1997 to 1998 at UBS. Besides his work at Fortress he also holds a number of directorial positions for various companies, such as Alea Group Holding, Eurocastle Investment, and Springleaf Finance, among others.

Fortress became a publicly traded company in 2007, getting listed on the New York Stock Exchange. The transition was of historic importance as Fortress was the first private equity firm to go public in the United States. As a result of Fortress being purchased by SoftBank in 2017 for $3.3 billion, the firm returned to being private, with Randal Nardone declaring that he is optimistic about the SoftBank deal and how it will strengthen the company. He noted that the purchase will provide the company with a platform to grow faster in the future, as well as gain them access to better credit sources.

Nardone alongside Edens, 2 of the firm’s co-founders are still active and involved in the firm’s operations, with Nardone acting as the CEO since 2013. He also holds different roles at Fortress subsidiaries, including positions of leadership at Eurocastle Investment, FM Falstaff Avisors and Florida East Coast Railway, among others. The Private Equity division led by Nardone and Edens, focuses on control-oriented investments which generate cash flow, investments in Western Europ, North America and the Caribbean.

In 2007 he was part of Forbes’ Wold Billionaires List, and as of 2018 he is listed at number 557. As a result of his hard work and dedication, Randal Nardone alongside the team of professionals at Fortress oversaw dramatic growth throughout the years, the firm being expected to continue growing at an even faster pace as a result of the SoftBank purchase.

 

 

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