Randal: Co-Founder of Fortress Investment Group

He attended the University of Connecticut where he acquired a Bachelor of Arts/science. At Boston University, he received his Doctor of Jurisprudence. The lawman come money man started out at Thatcher Proffitt &Wood. Randal Alan Nardone co-founded Fortress investment group back in 1998. He has held the position of principal since then and CEO since 2003. He serves as the principal of Fortress Credit Corporation. He is also president of Ncs LLC. He also co-founded Fortress Investment Fund IV and Fortress Registered Investment Trust. Apart from Fortress, Randal Nardone has worked at RIC Coinvestment Fund LP. He served as a chief operating officer and portfolio manager. At Newcastle Investment Corp, he served as secretary.

This was from 2002 till 2016 when he got the post of vice president. Before Randal started working at Fortress, he held the post of managing director at UBS. This was from May 1997 to May 1998. He was also a principal at Blackrock Financial Management. Randal Nardone holds position 557 on the Forbes list of billionaires. His fortunes are self-made. He attributes his sources of finance to the Fortress investment group. At 51, he has a net worth of 1.8 billion dollars to his name. Randal Nardone owns over 50 million shares worth 1.6 billion dollars. Fortress Investment Group sold a minority interest to Nomura, at 890 million dollars. Nomura is a Japan Investment firm and the deal happened last December. Since 2005, he has received over 100 million dollar cash payouts. He became a billionaire with partners Robert Kauffman, Wesley Edens and Peter Briger.

Randal Nardone has earned an extra $100 million in net cash payouts since 2005. SoftBank Group Corp finished the process of buying Fortress. This is the first time delisting of a US-based private equity firm has taken place. It was a 3.3 billion dollar cash deal, with each share valued at 8.08 million dollars. The day to day activities at Fortress has not changed since the acquisition. This is according to Fortress co-chairman Wes Edens in a TV interview on Bloomberg. In a statement by SoftBank, it stated that Fortress will operate as an independent entity. New York will still be headquartered. It also revealed that it doesn’t intend to change the management at Fortress. Neither does it intend to alter the brand, model, and employees.

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