For Randal “Randy” Nardone, holding the title of Principal, Chief Executive Officer (CEO), and Co-founder of Fortress Investment Group, was key for Fortress becoming a desirable company that future stakeholders and clients would consider working with.Nardone has been the CEO of Fortress Investment Group since 2013, and Principal since 1998. Nardone also served as the interim CEO since 2011. Fortress Investment Group, which is an investment management company firm based in New York City, was founded in 1998 by Rob Kauffman, Rob Kauffman, and Randal Nardone. Fortress Investment Group’s track record has been quite stellar over the years with mergers and acquisitions.
Fortress has timed the spinning off of some of their business entities and companies, quite successfully. Consequently, with Softbank’s purchase of Fortress, the company, as a whole, was not considered completely ready for this deal.Randal Nardone remarked that he had desired that Softbank had made these other companies under Fortress’ domain to be profitable for all the parties involved. Nardone’s prior work experience includes an impressive stint at UBS as the managing director. In lieu of working for the Swiss banking giant, Nardone was acting as Principal at Blackrock Financial Management. Prior to working at Blackrock, Nardone became a partner and was also a member of their executive cabinet at Thatcher Proffitt& Wood, a law firm. By being an impressive part of Fortress Investment Group, Randal Nardone was responsible for being involved in firsts. Under Nardone’s tutelage, Fortress Investment Group was one of the first private hedge funds to go public.
In 2017, Softbank (SBG), or Softbank Group Corp., acquired the Fortress Investment Group for $3.3 billion in cash.Softbank, a Japanese company, purchased Fortress Investment Group but decided to keep Wesley Edens, Rob Kauffman, Randal Nardone’s positions intact.Some of the key assets that Randal Nardone and the Fortress Investment Group have managed include Brookdale Senior Living, Drive Shack, Rail America, New Media Investment Group, New Senior Investment Group, New Residential Investment. and Fortress Transportation.Randal Nardone has been on the board of directors of many different firms. Mr. Nardone is currently the director of Eurocastle Investment Limited, Brookdale Senior Living, Inc., as well as Alea Group Holding Ltd. Nardone is the Secretary and Vice President of Newcastle Investment Holdings, LLC.At 51, Mr. Nardone was ranked #558 on the Forbes list of the World’s richest with an estimated worth of $1.8 Billion.