Randal Nardone has been a vital figure and an instrumental member in the establishment and growth of Fortress Investment group. With his leadership, it has grown to one of the largest investment managers in the world, with a worth of over 70 billion dollars in assets currently under their management. He established it alongside Rob Kauffman and Wes Edens in 1998.Randal Nardone’s career kicked off by putting his law degree from the Boston School of Law to use. He worked at Thacher Proffitt & Wood law firm. Here he scathed the heights of partner alongside serving in the executive committee. Randal Nardone moved on to Blackrock Investment Management and here he served as a principal. He later moved to the Union Bank of Switzerland, in which he held the esteemed position of Managing Director until 1998.
Randal also has a Bachelor of Arts Degree in English and Biology from the University of Connecticut. Upon the foundation of Fortress, he was in the management team and became an interim CEO in 2011. Randal Nardone’s competence led the board in having him assume the seat in 2013. Moreover, he is a principal and is also a member of the board of directors in November 2006.One of the most notable events under Randal Nardone’s Leadership was the sale of all its outstanding shares to Japanese owned Soft Bank Group. This transaction came with a price of 3.3 billion dollars.This meant that the share price for all of Fortress’ class A shares, would be selling at 8.08 dollars from 5.83 dollars. Moreover, all the executives would share 13.9 billion dollars according to one’s investment.
Randal Nardone commented that this would not only be a good chance for growth of the company, but also it would open up sources for further credit, which is another chance for the growth of the company. The leadership of Fortress Investment group was left intact as Soft Bank group attributed it and its business model for the successes of the organization. The employees too have positivity about working there for the conducive and learning environment that helps them grow career-wise in even experience. Other organizations have enlisted Randal’s leadership perspective. He serves in: Brookdale Senior Living as the Chairman; New Residential Investment in the executive management; he is the director at both Springleaf Holdings and Gagfah. As the corporation grew, so made Randal’s fortunes and he is ranked number 557 on the Forbes Billionaires list with a net worth of 1.8 million dollars.