Fortress Investment Group may not be as well-known to the general public as some other names, but this asset management firm is a true force in its own right, controlling billions of dollars worth of property. 1998 is when a man named Randal Nardone, as well as his trustworthy co-founders, first decided to bring the Fortress vision to life. Mr. Nardone already knew quite a bit about finance decisions and the investment world because he had previously worked with BlackRock, and was therefore bringing much to the team with his involvement.
Randal Nardone has been this group’s chief executive officer for more than five years now, and he has spent more than a decade on its board of directors. When it comes to credit, private equity and business management, Randal Nardone is not at all short on experience. Much of the growth that Fortress Investment Group has enjoyed over the past decade has been influenced heavily by Randal Nardone’s contributions. He initiated the organization’s subsidiaries called Fortress Registered Investment Trust as well as Fortress Credit Corporation. More about Randal Nardone at Bloomberg.
In 2017, a major event took place regarding Fortress Investment Group. It was purchased by one of the biggest Japanese organizations around, Softbank, and the price tag was quite substantial, more than $3 billion! After this deal reached its completion, Randal Nardone’s position within the company was not affected at all, and he has continued his stellar decision-making. Fortress, which used to trade publicly for those who follow the NYSE, now only trades privately after this deal.
Randal Nadone, it seems, is quite pleased with the deal that happened between Fortress Investment Group and Softbank. It could, according to Randal Nardone, create new potential for more rapid growth, as the organization will now gain the privilege of a new resource: a greater amount of credit to work with. Although a number of changes have occurred, Fortress Investment Group got on with operations as usual quite immediately after the purchase, and it is still based in New York. Mr. Randal Nardone is astonishingly one of the people recognized by the popular magazine, Forbes, for its yearly billionaire list.