Randal Nardone is one of the founding members of the Fortress Investment Group back in 18. Since 2013, he has reigned over the firm as the Chief Executive Officer but previously he had been a principal since 1998. He also serves as a principal at the Fortress Credit Corporation. Currently, he is among the firm’s board of directors.
Before becoming a principal at the Fortress Investment Group, Randal Nardone started off his career as an attorney at the Thacher Proffitt & Wood law firm where he also was a partner. He ventured into the financial industry at the Blackrock Financial Management as a principal. He later joined the UBS AG back in 1997 as a managing director. Read more about Randal Nardone at Crunchbase.
Moreover, Randal Nardone enrolled at the University of Connecticut where he graduated with a bachelor’s degree in Biology and English. He also hails as an alumnus and graduate of the Boston University School of Law.
Recently, the Fortress Investment Group made headlines following the acquisition by SoftBank Group. With the final phases of the transaction coming to a close, SoftBank Group owns the outstanding shares of the firm which amount to $3.3 billion. However, even after the complete purchase Randal Nardone still remains in the leadership roles and a member of the board of directors.
Randal Nardone recently talked about the acquisition of the Fortress Investment Group. He commented on how he was optimistic with the new deal and how it would strengthen the firm. He disclosed that the firm would be able to grow faster and access greater credit sources in the future. He also lauded the outstanding shares of the Fortress Investment Group which were bought at $8.08 per share compared to the trading shares of $5.83.
The deal is a great boost for the investors in the firm noted Randal. The executives also benefitted from the SoftBank purchase with a total of $1.3 billion for the firm. The amount is to be split based on the shares each has on the firm.