Fortress Investment Group found its home in New York, in 1998, after Randal Nardone co-found the private equity company managing alternative assets and credit and liquidity hedge funds. Before forming the firm, he attended the University of Connecticut and Boston University School, and holds a bachelor’s degree and J.D. Nardone entered the law field for some years before working for UBS from May 1997 until May 1998 serving as Managing Director. In the same year, he ended his term of office and became Principle of Fortress eventually accepting a CEO position in 2013. Visit angel.co to learn more about Randal Nardone
Eight years after launching Fortress Investment Group, its returns for private investors was almost 40 percent in earnings. By February 2007, Randal Nardone and the other principles had the company listed on New York Exchange. The end of second quarter 2016 they were managing over $72 billion in alternative assets. Between then and the first quarter of 2018, managing assets decreased by 29.3 percent because of the sale of various companies. With expertise in law and experience in hedge funds management and investments, Randal contributed to the firm’s rapid growth in credit, real estate, and capital strategies.
The deal Randal Nardone co-agreed to with SoftBank placed Fortress Investment Firm in the position of increasing its management assets and exploring emerging industries. In October of this year, a partnership transactions between Fortress and iPass closed worth $20 million. Ipass secured a loan using their technologies, patents, and other assets. It is part of SoftBank’s mission to introduce the firm to sectors of communications and developing technology.
Although, SoftBank is owner of Fortress Investment Group, Randal Nardone is continuing his position as CEO and keeping his seats on all boards of the firm’s subsidiaries. He is also serving as the President, Chief Operating Officer, and Chief Executive office for RIC Coinvestment Fund, IV and V Fortress Investment Funds, and Springleaf Financial Holdings. Randal helped build the firm’s foundation and for 20 years built it up to one of the largest and reputable companies in the US. He and Principles, Peter Briger and Wesley Edens are leading the firm to a greater height of success.