Randal Nardone Steers Fortress Investment Group To The Top
Fortress Investment Group’s CEO, Randal Nardone, has spent a huge chunk of his career at the asset management firm. The accomplished businessman went to the University of Connecticut where he successfully attained a BA in Biology and English. He later joined the University of Boston and he got his J.D. in Law.He began his career at the Thacher Proffitt & Wood law firm. While at the firm he served in the executive committee and became a partner before leaving the firm. His law career was not enough as he opted to venture into the financial world. He joined BlackRock Financial Management before heading to UBS where he was the managing director for a year.In 1998 Randal Nardone partnered with Wesley Edens to establish Fortress Investment Group. The two have developed the company from scratch to a world leader in asset management with private equity, real estate and capital markets as their main niches. It is based in New York and has offices all over the world. A year after founding the group Randal Nardone oversaw the launch of Fortress Investment Fund. He was also around for the launch of many other affiliates of the group. The Eurocastle Investment Ltd., Long Dated Value Funds, Fortress Partners Fund, Fortress Credit Opportunities Fund, Fortress Asia Macro Fund and Fortress Equity Partners have all been developed under his watch. He is a director of a number of these affiliates.
His exploits at Fortress Investment Group have seen numerous other boards across the country seek his services. Through his illustrious career, Randal Nardone has served as president of Springleaf Financial Holdings. He has also been appointed the vice president of many other firms including Fortress Registered Investment Trust, Newcastle Investment Corp., and Newcastle Investment Holdings.
Fortress Investment Group is a great place for any person starting out their finance career. They get to interact with the best financial minds around and can learn a lot if they put their minds to it. It also provides an opportunity to grow one’s career as there are numerous options to choose from. Most employees appreciate the intensity of work as it helps them to be better placed to handle tough situations.
Softbank Purchases FIG
Late last year Softbank, a Japan-based technology firm, parted with $3.3 billion to acquire Fortress Investment Group. This was an unprecedented move as Softbank is well known for its interest in technology. Randal Nardone kept his position at the helm of the group. He felt that the acquisition would improve the firm’s returns from the private equity investments and considerably increase their sales.
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