Randal Nardone is the incumbent chief executive officer of the alternative asset manager, Fortress Investment Group. He is a renowned private equity investor and a business entrepreneur.
He attended Connecticut University where he pursued an undergraduate degree in English and Biology. He later attended Boston University School of Law and graduated with a Doctorate of Jurisprudence.
He boasts of rich experience in law and business finance. On completion of his studies, he began his career as an executive committee member at Thatcher Proffitt and Wood law firm. Due to his admirable leadership qualities, he has been appointed to various top companies serving in senior leadership positions. He has worked as a chief executive officer and managing director at UBC.
In the year 1998, Randal Nardone partnered with Wes Edens, Robert Kauffman, and Michael Edward to establish Fortress Investment Group. The hedge fund manager was founded as a private equity company in capital investments amounting to $400 million. Read more about Randal Nardone at Crunchbase.
Following Daniel Mudd’s voluntary resignation from the role of the chief executive officer at Fortress, Randal Nardone was appointed as the interim CEO. Before becoming the firm’s CEO, he served in the board of the company’s directors, a position he had been holding since the year 2006.
His contribution to Fortress Investment Group has been remarkable. He initiated Fortress Investment Fund which is a subsidiary of Fortress Investment Group. The company currently controls over $80 billion in property and equity investments. It has also created employment to more than 1800 people.
In January 2018, Randal Nardone announced that his main business, Fortress would be acquired by Japan-based SoftBank Corporation. The company’s directors agreed that the firm would pay $3.3 billion in cash to purchase Fortress.
It was also finalized that Fortress would continue its operations from New York City in a five-year deal. Wes Edens and Randal Nardone were further allowed to retain their leadership roles.
Over the years, he has accumulated massive wealth from his business and law ventures. According to Forbes, his wealth is valued at $1.8 billion. In the World’s billionaire list, he is ranked in the 557th position.