Randal Nardone’s service at Fortress Investment Group

Randal Nardone, popularly known as Randy J.D., has served on Fortress Investment Group since its inception in 1998. He was among the co-founders of the alternative asset management firm. Having served as president for close to 15 years, he became the company’s chief executive officer in 2013. This was after two years as the acting CEO.
The firm is a leading alternative assets manager. Credit funds, real estate, private equity and hedge funds are all managed for different clients around the world. The clients range from private investors to institutional clients. The company has enjoyed considerable success with Randal Nardone in charge. It has won the hedge fund manager of the year a couple of times since 2014.
He is also in charge of the Fortress Credit Corporation. When FIG purchased Springleaf Financial Holdings in 2010, Nardone was appointed chairman of the new acquisition. He studied Biology and English at the University of Connecticut and later joined Boston University where he graduated with Doctor of Jurisprudence. Before founding FIG he had been at the Union Bank of Switzerland, a leading Swiss Bank,where he served as its managing director for a year. He also enjoyed stints at Thatcher Proffit where he was partner as well as BlackRock Financial Management. He has held other managerial roles throughout his career and also served as a board member of a number of organizations. He is affiliated to close to twenty corporations.
At FIG, randal is mainly responsible for the legal matters concerning the firm. He has also been charged with taking care of structured finances. In 2007, Fortress Investment Group had a public offering that made Randal a billionaire along with the other principals, Michael Novogratz, Wesley Edens, Peter Briger and Robert Kauffman. The Softbank Group based in Japan recently purchased the Fortress Investment Group. They spent $3.3 billion on this acquisition that increased their conquest of the US financial market. Softbank seemed to have ventured into a new field as they are known for their investments in technology. Masayoshi Son, Softbank’s founder, insisted that they had no intentions of disrupting the operations at FIG.
All the Fortress shareholders approved the transaction allowing Softbank to own all the shares available in the firm. Fortress’ principals kept their positions as it maintained its normal operations. Randal Nardone believed that the purchase would change the fortunes of the firm’s private equity investments. He further stated that a new environment was important to improve their sells. Investors are also bound to gain considerably from the transaction.