Randal Nardone co-founded Fortress Investment Group in 1998. He earned graduated from the University of Connecticut with a B.A. in English and Biology. Then he earned JD from Boston University School of Law.
Before founding Fortress Investment Group, he was managing director at UBS, and before that, he was principal at BlackRock Financial Management. Before that, he held an appointment on the executive committee at the law firm of Thacher Proffitt and Wood. He has also held positions at Alea Group Holdings Limited, GAGFA S.A., and Brookdale Senior Living.
Occupying the spot 557 on the Forbes billionaire list, Nardone is a self-made man whose net worth is about $1.8, made at the initial public offering in 2007. He is the COO (chief operating officer), overseeing the structured finance and legal matters sections. Nardone has earned an amazing $100 million in cash payouts since 2005.
Fortress Investment Group is a powerhouse money management provider who specializes in highly diversified global investments and manages assets worth $43.6 billion. Randal Nardone is also a director of EuroCastle Investment Limited, Spring Leaf Finance Corporation and Spring Leaf Finance, INC.
In late December 2017, Softbank Group Corp announced that it had bought Fortress Investment Group for $3.3 billion. Fortress will operate within Softbank as an independent business with Randal Nardone, Wes Edens, and Peter Briger continuing to lead the entity. With the merger came the chance for shareholders to sell their shares for $8.08 each.
Fortress’ heavy investments in areas such as senior living, mortgages, and infrastructure appealed to the Japanese held Softbank because they represent large amounts of capital invested in permanent capital vehicles worth over $7 billion.
Randal Nardone joins his executive partners in praising the merger, adding that the leadership of Masayoshi Son is a great asset to Fortune Investment. They go on to say that Softbank’s scale and easy access to resources will continue to add value to the customers of Fortune Investment Group.
Learn more: https://www.crunchbase.com/person/randal-nardone