Randal Nardone is a co-founder of Fortress Investment Group and a member of the firm’s Management Committee since the year 1998. He was appointed to the firm’s Board of Directors back in November of 2006 and in 2013 he was named Chief Executive Officer at Fortress, after serving as an interim Chief Executive Officer for more than a year.
His impressive academic track record includes a B.A. from the University of Connecticut, having majored in both English and Biology. In addition, he attended Boston University School of Law, where he earned his law degree. Prior to founding Fortress Investment Group alongside Wes Edens and Rob Kauffman in 1998, Randal Nardone served as a principal at BlackRock Financial Management, and as managing director of UBS. Early during his career he was a partner at the Thacher Proffitt & Wood law firm.
Besides his role as the Chief Executive Officer, Randal Nardone also holds important roles for various subsidiaries of Fortress Investment Group, such as leadership positions for FMA LLC, Falstaff Advisors, Eurocastle Investment, FIG LLC, Seacastle, Newcastle Investment Holding, Springleaf REIT, Florida East Coast Railway, and Impac Commercial Holdings. Forbes named Randal Nardone in the publication’s World Billionaire list back in 2007.
The New York City-based firm is the first large private equity firm in the country to become publicly traded, as a result of their launch on the New York Stock Exchange back in 2007. Additionally, the firm is the first of its kind to become delisted from the New York Stock Exchange, after a decade later from going public the firm got acquired by SoftBank Group, a multinational Japanese conglomerate. The firm was sold for $3.3 billion dollar, but continues to operate independently, as Peter Briger, Wes Edens, and Randal Nardone remained as principals.
Fortress currently has more than $40 billion in managed assets, and the acquisition by SoftBank is expected to be beneficial for both parties. Recently, the firm made headlines after buying an iconic building on Worth Avenue in South Florida. The building is in part known for being the home of Tiffany & Co. since 1991, and it sold for the price of $20 million.
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