Randal Nardone is the CEO and co-founder of Fortress Investment Group, an investment management firm based in New York City. Mr. Nardone is number 557 on the world’s billionaire list according to Forbes. Formally a lawyer, Randal got his start in the financial world at Thacher Proffitt & Wood, and later at BlackRock Financial and UBS. In 1988, along side Wesley R. Edens and Rob Kauffman, he decided to start up Fortress. Going into it he knew that he would be faced with many challenges, including trying to compete with other firms. But because of his experience from dealing with clients in the past, Randal Nardone was confident that he would be able to succeed by implementing positive improvement ideas to help his company grow. As a result, the company has developed into brand that is known for the high quality services rendered to customers. To add to an already impressive resume, Randal Nardone has held and currently holds prominent positions on various boards. He is the Principal and Director of the Fortress Credit Corporation, President and Chairman of Springleaf Financial Holdings,LLC, Director of Eurocastle Investment Limited, Non Executive Director of Alea Group Holdings Bermuda Ltd., Director of Florida East Coast Holdings Corp., Director of Springleaf Finance, and Director of Springleag REIT Inc. Randall Nardone resembles a decorated colonel of finance.
SoftBank’s Purchase of Fortress
In December of 2017, SoftBank announced the completion of the acquisition of Fortress Investment Group for $3.3 billion. As a result, each outstanding Fortress Class A share was converted into the right to receive $8.08 per share, with merger proceeds to be distributed according to the merger agreement. Also, Fortress’ common stock has ceased trading and was taken off the list of the New York Stock Exchange.
All in all, Randal Nardone is a guru in his own right. Over his career he has experienced tremendous success in the world of finance.
To learn more:https://www.crunchbase.com/person/randal-nardone