Randal Nardone is a co-founder of Fortress Investment Group, a company founded in 1998 together with two other investors. He works in the New York offices, and he is a principal of the alternative investment firm as well as serving as a member of the board of directors. Randal Nardone started working as an attorney, partner at Thatcher Proffit and Wood law firm. He later joined financial industry in 1997 when he joined Blackrod Financial Management and served as a principal before leaving for UBS AG in 1997 where he served as a managing director. Randal Nardone holds a bachelor’s degree in Biology and English from the University of Connecticut as well as Law degree from the Boston University School of Law.
In December 2017, Fortress investment group made an announcement that the company is being acquired by SoftBank Group corp., a huge banking company from Japan. The acquisition was made at $3.3 billion making the Japanese company an owner of all the outstanding shares. After the purchase, the management of the Fortress Investment Company including Randal Nardone retained their positions. The company delisted itself after the acquisition making it the original equity company to delist itself in the United States. The company will operate as an independent company investing in what they are specialists in including real estate, private equity firm, hedge funds, railroads, and credit funds.
Randal Nardone talked about the massive acquisition of Fortress Investment Group stating that he was very optimistic that the deal will reinforce his company. He also noted that the agreement would help his company grow shortly and be able to access more credit. He stated that the deal saw each share of Fortress Investment Group being bought at $8.08 per share whereas it was trading at $5.83 per share. The deal was a great deal for all investors in his company.
The total amount of money made by the executives of Fortress is $1.39 billion after the acquisition by SoftBank. The amount is to be split among the investors based on the number of individual shares.
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