A Brief History of Randal Nardone and The Fortress Invesment Group

Randal Nardone started his career as a partner at a law firm. From there he served as managing director of USB and principal at Blackrock Financial Managment. It was here that he met the two other people that would start Fortress Investment Group.Fortress Investment Group was started in 1998 by Randal Nardone, Wes Edens, and Rob Kauffman. The goal of the investment group was to create an alternative strategy to raise private equity and invest it into cutting edge vehicles. In the beginning, the group invested in real estate. Then they moved to debt securities and hedge funds. The investment group grew fast increasing to 40 percent in the first eight years. In 2007 The Fortress Investment Group was the first hedge fund to launch an IOP.

The innovative move brought the group out into the public. The Fortress Investment Group has won many awards under Randal Nardone. They received ” Credit-Focused Fund Of The Year” in 2010 and 2011. In 2012 they received ” Discretionary Macro-Focused Hedge Fund of The Year.” In 2014 HIM magazine named them “Managment Firm of The Year.” In the same year, International Investor named them ” Hedge Found Manager Of The Year.”In 2017 The Fortress Investment Group was bought by SoftBank. The Softbank Group is a Japanese multinational holding conglomerate in Tokyo. SoftBank purchased Fortress Investment for $3.3 billion dollars.

The purchase from SoftBank was to give the company investment expertise. SoftBank was impressed with Fortress Investment Group’s leadership qualities. They are content with leaving the group to run as an independent company. Randal Nardone will still be serving as the companies, chief executive officer. The Fortress Investment Group is planning on pushing forward continuing with the alternative investment field.Randal Nardone success with Fortress Investment Group is part of the reason he has been ranked #557 on Forbes billionaire list.

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