Randal Nardone is the CEO, director, principal and co-founder of Fortress Investment Group, a firm of investment management. He has been Fortress’ management committee member since 1998, and the Directors Board member since November 2006. He became the CEO in July 2013 after acting CEO from December 2011. He is also the director of Eurocastle Investment Ltd. and Springleaf Financial Holdings chairman and president.Before co-founding Fortress, Randal Nardone was part of the directors’ board of the Bermuda Alea Group Holdings Ltd for seven years between July 2007 and September 2014, Brookdale Senior Living between January 2011 and June 2014 and GAGFAH S.A. for eight years between September 2006 and June 2014. He was also the MD of UBS between May 1997 and May 1998. He led BlackRock Financial Management as the principal before he joined UBS. He served as RIC Coinvestment Fund’s secretary, a Portfolio Manager, and COO.
Additionally, he was an executive committee member of Thatcher Proffitt & Wood law firm. He has a Biology and English B.A. from Connecticut University and from the Law School of Boston University as a J.D.Randal Nardone’s management and finance private equity expertise, extensive credit and extensive experience in officiating and directing public companies as well as his deep understanding of Fortress made the BOD conclude that he was qualified to become a director. He graced the list of the World’s Billionaires on the Forbes magazine in 2007 with a net worth approximated to be $1.8 billion.
A tech investor from Japan, the SoftBank Group Corporation, acquired Fortress Investment Group in 2017. The deal’s cost was $3.3 billion is the first of a US private firm of equity that had been traded publicly delisting. The last trading day prior to the acquisition of Fortress, it closed its stock at $7.85 for a share. This was about 58% drop from the first public offering price in 2007. SoftBank hit the deal to buy Fortress at $8.08 for each share in February 2017. This was a 39% rise from the close of the stocks last day. Even after this acquisition, Fortress would continue operating independently, though within SoftBank’s management, and its headquarters would remain in New York. SoftBank would make sure that the business model, employees, culture, processes, brand, and management of Fortress remained intact. Randal Nardone addressed this development by saying that they were excited and ready to work with SoftBank to continue offering their customers the best services.