Randal Nardone is one of the most recognizable names behind the Fortress Credit Corporation. After all, he is a co-founder of the company and also serves as the Chief Executive Officer and the Director. The firm started its operations in 1998, and since 2013, Mr. Randal has been the CEO. Before his life began at Fortress Credit Corporation, Randal Nardone was a Bachelor of Arts in English and Biology student in the University of Connecticut. Soon after he graduated, he pursued Doctor of Jurisprudence in Boston University School of Law. Mr. Nardone has several responsibilities in his hands that it is easy to wonder how he has the time to perform these duties. However, he does them and accomplishes his tasks with flying colors. It is one of the reasons why he is much admired in the investment world. He is a veteran in the industry with many roles to play, including the President of Springfield Financial Holdings. He also holds the same position at NCS 1 LLC.
Newcastle Investment Holdings is also one of the companies he currently serves where he is the Vice President. He also had past jobs at specific companies where he is a revered expert. One was at Thacher Proffitt and Wood, which is a law firm where he worked as a member of the Executive Committee. During that time, he was also the Chief Operating Officer and the Managing Director at the Union Bank of Switzerland. The list of his responsibilities and his previous jobs do not seem to end as he is also the director of Springfield Finance, Inc. He also has the same position at other companies, including the Eurocastle Investment Limited, Alea Group Holdings in Bermuda, and Brookdale Senior Living, Inc.
Randal Nardone was the interim Chief Executive Officer of the Fortress Investment Group from 2011 to 2013. He got this role when the Board appointed him back in 2006. One of his best moments in the industry was when he founded the Fortress Investment Fund IV, LP as well as the Fortress Investment Fund V, LP. He still works as the Director, CEO, and COO of these mentioned firms. As he continues to move within the industry, he has gained a ton of affiliations with various groups with prominent ones such as New Media Investment Group, Inc., Drive Shack Inc., Mapeley Limited, and Aircastle Limited. Now with more than two decades of his company, Fortress, his clients and investors know there is no stopping Randal Nardone. Learn More.
The Fortress Investment Group is the leading private equity firms in the United States today. The company was founded in 1998 by three visionary entrepreneurs who realized that they should be investing in a company that would assist entrepreneurs and business people with managing their assets. Wesley Edens, Rob Kauffman, and Randal Nardone all share the same experiences working with a financial institution, and through the years of working for financial giants, they realized that they could be earning more if they will build their own company. They left their jobs and focused on managing their business, which became a hit a few years after it was established. The company grew at a fast rate, and by the year 2000, they are already managing hundreds of millions of assets. In 2002, Peter Briger joined the team, sharing his expertise in the world of financial management and business.
The Fortress Investment Company started to explore different business ventures that would help in making the company a successful private equity firm. In 2007, the founders of the company had an idea to offer the firm to the public, and they debuted in February 2007 at the New York Stock Exchange. More than 8% of the company was traded to the public, and the transaction is worth $600 million. The offering of the company to the public marked a new page in the history of the Fortress Investment Group. In 2008, the global recession began, and the Fortress Investment Group generated a plan that would save them from the effects of the economic meltdown. They managed to execute the plan effectively, and the company experienced growth during the turbulent years, opposite to what their competitors have experienced.
Business institutions have awarded the company because of their remarkable strategies in facing the global recession. By 2010, the company started to team up with the government of Vancouver to create the Olympic Village. The government of Vancouver had to search for an alternative financier because their initial partner backed out. The Olympic Village was later turned over to the company, and it was added to their list of assets. Today, the Fortress Investment Group is celebrating its 20th founding anniversary. The company is now managing assets with a combined worth of $65 billion. The company has also been under the supervision of the Softbank Group, a Japanese conglomerate. The Softbank Group purchased the company for $3.3 billion, with the founders retaining their positions inside the company.