How Randal Nardone has developed Fortress Investment Group
Randal Nardone is a well-known Lawyer the shift gears into finance. After getting it started Thacher Proffit & Wood, he advanced up the ranks at BlackRock Financial and then eventually the Union Bank of Switzerland. While working in a high capacity for one of the prolific Swiss banks in the world may seem like a very lofty target for most, this simply was not enough for him. It’s for this reason that Randal Nardone established Fortress Investment Group in 1998, and the company has exploded in growth since then.
It is this recent growth that has given him a coveted spot on Forbes Billionaire list. With a net worth of $1.8 Billion, Randal Nardone is currently the #557th ranked billionaire, all while being entirely self-made. His incredible wealth is almost entirely tied to his stake in Fortress Investment group. In addition to this, he has earned over $100,000,000 in other cash compensation.
Today Randal Nardone continues to serve as the CEO of Fortress Investment Group. Is return to the company in 2011 was altogether fitting, considering his role in the beginning. As of a report on June, 30th 2016 the company manages more than 70 billion dollars in alternative assets. These assets are split among private equity, liquid hedge funds, as well as credit funds.
Beyond the obvious financial achievements of Randal Nardone come a wealth of other achievements. In 2014, under his guidance fortress Investment Group was awarded “Hedge Fund Manager of the Year” by Institutional Investor as well as “Managment Firm of the Year” by HFMWeek. Additionally, The company has been recognized and praised by Institutional investor as being the Discretionary Macro-Focused Hedge Fund of the Year” for 2012, as well as “Credit-Focused Fund of the Year” for two years in a row from 2010 to 2011.
All this has come together with the company’s most recent development, the acquisition by SoftBank Group. Initially planned outon February 14th, 2017 Softbank agreed that it would buy the company for $3.3 Billion. This acquisition completed in December that same year.
At just 51 years of age, Randal Nardone has achieved a considerable fortune. He’s been able to make his success through strong connections with other brilliant investors as well as a steadfast dedication to his company’s continued success. While Fortress Investment Group may no longer be a stand-alone entity, his influence still lives on with him as the CEO of the company.
For details: www.marketswiki.com/wiki/Randal_A._Nardone