A Brief History of Randal Nardone

Randal Nardone is the CEO and Principal of Fortress Investment Group which he co-founded with Wesley R. Eden in 1998. He received his Bachelor of Arts in English and Biology at the University of Connecticut and his Juris Doctor Degree from Boston University School of Law. Before co-founding Fortress Investment, he worked as a Managing Director of UBS, a Principal of BlackRock Financial Management, and as a member of the executive committee for the Thacher Proffitt & Wood law firm.Nardone has served on the board of directors at Fortress since 2006 and currently manages all of the company’s finances and legal matters. The business was originally a private equity management firm but it later expanded to include the management of real estate, hedge funds, and debt security.

The firm was first publicly traded in 2007 and became the largest private equity firm to do so.Fortress Investment Group manages over 1,700 clients and $43.6 billion dollars in assets. Employees have been known to comment on the fast paced nature of the company and how insightful it is to work with a management team that pushes them to do more and recognizes their achievements. Fortress Investment group was acquired by SoftBank Group as of December 27, 2017 for $3.3 billion. After the acquisition, Class A shareholders received $8.08 per share and Fortress common stock ceased to be traded on the stock market.

The office still operates independently and Randal Nardone and the other Principals have not been removed from their positions. Nardone and the rest of the Principals have agreed to give half of the after tax revenue from the acquisition to Fortress-managed funds that are aligned with limited partner investments and equity securities of SoftBank. Aside from his main job at Fortress, Randal Nardone serves as the Director of Eurocastle Investment Limited, President and Chairman of Springleaf Financial Holdings, Non Executive Director of Alea Group Holdings Bermuda, and Director of Florida East Coast Holding Corporation among other titles.

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