Randal Nardone is a renowned business entrepreneur with interests in private equity ventures. He is the senior principal and chief executive officer of Fortress Investment Group. He gained entry into the prestigious Connecticut University to pursue a bachelor’s degree of Arts in Biology and English. He later attended Boston University school of law where he attained his Doctorate of Jurisprudence.
He boasts of high expertise in finance having worked in several companies for an extended period. He commenced his career in law at Thatcher Proffitt and Wood company. He secured his first employment at the firm as a partner and an executive member of the committee. Due to his remarkable administration skills, he has held senior managerial positions in several companies. He was the CEO and managing director at UBC Corporation.
In the year 1998, Randal Nardone joined hands with his longtime friends and business partners Wes Edens, Robert Kauffman and Michael Edward to establish Fortress Investment Group. The private equity company was found with $400 million in capital investments. Fortress is an alternative asset management firm.
When Daniel Mudd voluntarily stepped down as Fortress’ Chief Executive Officer in the year 2011, Nardone was appointed the interim CEO of the company. He had been initially appointed as the firm’s director in the year 2006.
Under his leadership, Fortress has witnessed a remarkably long period of success. He enabled the company to go public; he also influenced the firm to acquire Springleaf Financial Services. The acquisition made the company one of the leading asset management companies. Fortress controls more than $80 billion in property and equity investments. It also currently employs more than 1750 people.
Randal Nardone announced the sale of his main business, Fortress in January 2018. He confirmed that SoftBank Corporation would acquire the company from Japan. The corporation purchased the firm at $3.3 billion in cash. The buyout accumulated massive profits for the company that had only been established with $400 million.
However, it was agreed that Fortress would still maintain its operations at New York City in a five-year contract. Randal Nardone and Wes Edens also retained managerial roles. The meteoric success at Fortress is attributed to his hard work and dedication. He is highly respected amongst his colleagues and clients.
According to Forbes, he is valued at $1.8 billion. He is highly skilled in combining his business expertise with the law. He is ranked at 557th in the notable billionaire list of the world.