CEO Randal Nardone Steers Fortress Investment Group Through Its Purchase By SoftBank

CEO Randal Nardone
R. Nardone, Fortress Investment Group

Randal Nardone is one of the co-founders of the alternative asset manager Fortress Investment Group, LLC. He is a principal, the chief executive officer, and is on the board of directors. He was a student at the University of Connecticut where he studied English and biology. He earned a law degree at the Boston University School of Law and then moved to New York City and got a job at a boutique law firm, Thacher Proffitt & Wood.

He decided to enter the world of finance fairly early on in his career. He worked at both BlackRock Financial Management, Inc. and UBS before joining some business partners to establish Fortress Investment Group in 1998. He highly involved in the private equity side of the business and has taken executive-level positions at several of Fortress Investment Group’s subsidiaries and the companies that they have invested in. Read more at Wikipedia.

Randal Nardone is also on the board of directors for companies that Fortress has invested in. Among these are Seacastle, Inc., Eurocastly Investment Ltd., Florida East Coast Railway Corporation, Florida East Coast Holdings Corporation, and Springleaf REIT, Inc. He brings a wealth of management experience to these positions and a firm vision of where these companies should invest their resources in order to drive growth.

Fortress was the first private equity firm to ever go public in 2007. It was also the first private equity firm to go back to being privately-held on December 27, 2017. They were purchased by the Japanese conglomerate giant SoftBank Group Corporation. They paid $3.3 billion for Fortress. When this deal was closed Randal Nardone retained all of his positions at Fortress, as did the rest of the executive team and staff.

Randal Nardone says that Fortress Investment Group operates as an independent firm even though it is owned by SoftBank. One of the U.S. federal regulators requirements to approve Fortress’ purchase was that this is the case. About the only change that really occurred was that they no longer have to do earning calls. The executive team is pretty thrilled to once again be privately held because it gives them the ability to once again focus on long-term growth.

Learn more: https://discoverorg.com/directory/person/randal-nardone/5552352

 

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