Randal Nardone is the co-founder and CEO of the investment management firm Fortress Investment Group. Initially focused on private equity, the company now invests in private equity, permanent capital, credit, real estate and more. Nardone started the company in 1998 with Wesley Edens and Robert Kauffman. With its NYSE launch in 2007, Fortress Investment Group became America’s first publicly traded large private equity firm. By 2016 the company had $70.2 billion in assets under management. Before starting Fortress Investment Group, Nardone had worked in financial services for over a decade.A University of Connecticut graduate with degrees in Biology and English, Randal Nardone also attended Boston University School of Law where he earned his juris doctor.
After starting his professional career at the law firm Thatcher Profit and Wood, Nardal decided to focus on financial services instead and accepted a position with Blackrock Financial Management. Nardone then moved to UBS where he was a managing director. The husband and father of one left UBS in 1997 to start Fortress Investment Group. When the company went public, Randal Nardone had a net worth of $1.8 billion and was the world’s 557th wealthiest billionaire according to Forbes. Since founding Fortress Investment Group Randal Nardone has held executive and management positions in a number of its subsidiaries. Some of those companies include Newcastle Investment Holdings, Euro Castle Investment, GAGFAH S.A., Brookdale Senior Living Group Holding Ltd, Fortress Investment Fund IV and V, Springleaf Financial Holdings, Fortress Registered Investment Trust, IMPAC Commercial Holdings, Inc.
OneMain Holdings, Inc., Florida East Coast Holdings Corp. and several others. Under the leadership of Randal Nardone and his co-principals, Fortress Investment Group has played an instrumental role in financing projects in a number of areas including digital marketing, mortgage services and even golf courses. The Japanese company the Sofbank Group, led by Masayoshi Son, were so impressed with the work Nardone and the team at Fortress Investment Group has done, they purchased the company for $3.3 billion and asked Nardone and the leadership group to remain in charge of the company. The New York based investment company will work as an independent entity within Sofbank. Randal Nardone’s vision for what Fortress Investment Group could become has come to fruition. The company has made groundbreaking moves that have significantly impacted the financial services industry. Randal Nardone’s switch from law to financial services has helped to make him into a billionaire.