Randal Nardone is the chief executive officer and principal at Fortress Investment Group. He is an accomplished entrepreneur passionate in private equity investments. He attended Connecticut University where he undertook a bachelor’s of Arts in Biology and English. He later furthered his education at Boston University School of law with a doctorate of Jurisprudence.
He has experienced a successful career after completion of his degree. He has acquired immense leadership skills all along. He began his career at Thatcher Proffitt and Wood Company as a partner. He was later elected to the executive committee of the firm.
Owing to his exquisite managerial skills and expertise, Randal Nardone has served in top positions at various corporations. Alongside his executive positions at Fortress, he has worked as the Chief Executive Officer at UBC Corporation.
With $400 million in equity, he co-founded Fortress Investment Group in the year 1998. He set up the company together with Robert Kauffman, Michael Edward, and the Brightline rail system owner, Wes Edens. The fortress was started as a private equity company before it was traded out publicly in 2007.
Daniel Mudd served as the firm’s CEO for a long time. He however voluntarily gave up his seat in the year 2011. Randal Nardone was later appointed as the interim Chief Executive Officer of the firm. Before becoming Fortress’ CEO he served as the group’s director, a position he took up in 2006.
He has steered the company into remarkable achievements, under his leadership the company was traded out publicly. He was also behind the firm’s acquisition of Springleaf Financial Services.
The acquisition of the sublime lender made Fortress become one of the largest alternative asset management companies in the United States. The company currently manages over $78 billion in equity and property investments. Moreover, it has employed more than 2500 professionals.
Fortress principals announced the sale of the firm in January 2018. The company was sold to SoftBank Corporation from Japan at $3.3 billion. The decision was reached at after a deal had been struck to retain the firm’s headquarters in New York. It was also agreed that Wes Edens and Randal Nardone would stick to their managerial roles.
His reputation is held in high regard amongst his business partners and clients. He attributes the company’s success to the team of highly dedicated employees that are committed to the group’s traditions and principles. He is valued at $1.8 billion by Forbes with most of his wealth coming from Fortress.