Randal Nardone: Pleased With Fortress’ Acquisition

Randal A. Nardone is the co-founder, principal and director at Fortress Investment Group LLC. Although acquiring the board of directors position in November of 2006, Randal Nardone has been a member of the management committee at Fortress since 1998, when it was founded. Upon its launch, Fortress was the first large private equity firm in the United States to be publicly traded. In August of 2013, he was appointed chief executive officer of Fortress after serving as a chief executive office intern from December of 2011 to July of 2013. During his time at Fortress, Randal Nardone aided in obtaining reputable awards for Fortress including Hedge Fund Manager of The Year in 2007, and Management Firm of The Year in 2014. Along with serving as the CEO of Fortress Investment Group, Nardone is also the co-founder of Fortress Credit Corporation and FM Falstaff Advisors LLC, and Fortress Macro Advisors.

Randal Nardone was born on June 22, 1955. He got an early start in his professional path after attending high school. He attended the University of Connecticut, receiving two bachelor’s degrees in English and Biology. He then attended law school at Boston University, receiving his J.D Degree. Shortly after receiving his law degree, Randal began his law career by working at a respected law firm named Thacher Proffitt & Wood. Shortly after working at this law firm, Nardone would pursue his career in the financial industry by serving as the managing director at UBS, an investment banking company. Randal Nardone’s knowledge in law and finances allowed him to establish Fortress Investment Group as a statutory entity in the financial service industry. By applying his expertise, Randal Nardone was able to rank on the Forbes billionaire list at number 557, with a net worth of $1.8 billion.

As of December 2017, a Japanese banking company named SoftBank announced they are purchasing Fortress Investment Group for $3.3 billion. While maintaining the management positions at Fortress, Randal and the members’ positions will remain intact. However, Fortress will continue operating independently. When asked regarding his opinion on the accusation, Randal Nardone mentioned his optimistic viewpoints as this acquisition will help to strengthen his company. He also mentioned the advantages gained through this deal, as his company will grow faster and gain extensive accessibility to greater credit sources.

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