Fortress investment group was established in 1988 as a private equity firm. Since then it has grown to become a key player in the assets management industry. The success of the company culminated in 2007 when it offered Initial Public Offering (IPO) at the New York Stock Exchange (NYSE).
Currently, the company manages over forty-three billion of assets for over one thousand and seven hundred investors. Although it started as private equity firm, it has diversified its operations to include permanent capital vehicles and hedge funds. The company has its main headquarters in New York and employing over nine hundred employees. One of the main strategies the company has used to attract a huge client base is ‘strong risk-adjusted return’ of investment in the long-run. Randal Nardone co-manages the company with Wes Edens and Peter Briger.
Randal Nardone is an American Businessman with over thirty years experience in financial services. He attended the University of Connecticut and graduated with a bachelor’s degree in English and Biology. Later he also earned a juris doctor degree from Boston University. Before venturing into entrepreneurship, he worked at Thacher Proffitt & Wood as a partner and executive member. His growing interest in the financial service industry made him join Blackrock Financial Management. He also worked for UBS as a managing director for one year. He served in different capacities in various reputable firms before co-founding Fortress.
In 1997 he partnered with five principles to establish Fortress Investment group where he has been the CEO since 2013. Apart from being the CEO, Randal plays other significant roles in the company. For instance, he is the co-founder and principal of Fortress Credit Corporation and the CEO and COO of the investment funds.
Randal Nardone is involved with other interests in addition to his roles at Fortress. He is the president and chairman of Springleaf Financial Holdings and NCS I company. Randal is also the vice president and secretary of Newcastle Investment Holdings. Last year, Fortress Investment Group was purchased by SoftBank Group Corporation at $3.3 dollars. However, the company continues to operate independently while the initial principal roles preserved.