Randal Nardone is the Principal and co-founder of Fortress Investment Group, a leading investment management firm with about $70.2 billion in assets, founded in 1998 and headquartered in New York City. He is ranked on Forbes list as the 557th wealthiest billionaire with a net worth of 1.8 billion dollars.With a Boston University School of Law and University of Connecticut English and Biology education background, Randal Nardone started his career as a managing director at Union Bank of Switzerland and principal at BlackRock which is the world largest asset management company. Likewise, he worked as an executive committee member of Thacher Proffitt and Wood, a New York City law firm.Currently, he serves as a director of Alea Group Holdings, Brookdale Senior Living Inc, Eurocastle Investment Limited, Springleaf Finance Corporation and Springleaf Finance Inc. Randal Nardone then joined Swiss bank where he served as a managing director and eventually worked at Blackrock Financial Management.
Fortress Investment Group employees are highly motivated to work with the giant company, and they place higher ratings and positive reviews for the company. Notably, the staff members highly regard their director Randal Nardone as the core Principal whose efforts translate into company’s great success. Those who at one point worked with Fortress Investment Group for instance as interns affirm that the company was instrumental in offering great exposure and shaping them in different dimensions.In 2017, SoftBank Group finalized a deal to acquire Fortress Investment Group for $ 3.3 billion in a bid to promote itself into one of the largest investment companies. Fortress shareholders approved SoftBank Group and its subsidiaries ownership of the outstanding shares in a meeting, and necessary regulatory and customary conditions were met.
Subsequently, each Fortress Class A shares was given the right to receive $8.08 per share. Additionally, Fortress stocks were delisted from the New York Stock Exchange. Also, the financial results of Fortress Investment were combined onto SoftBank Group’s consolidated financial statement.However, Fortress operates as an independent company within SoftBank Group. Randal Nardone was confident that the decision would be advantageous in the long run for the general operation of Fortress Investment Group and the industry at large. This is evident by the fact that Fortress Investment raised a considerable amount of capital that was necessary for growth and expansion. Also, SoftBank Group which is a global information technology player is well established and has a lot of prospects in the future of information technology.