Randal “Randy” Nardone is currently Principal and Chief Executive Officer (CEO) at Fortress Investment Group, LLC. Nardone has been the CEO of Fortress Investment Group since 2013 and Principal since 1998. Nardone had served as the interim CEO at Fortress since 2011. Fortress Investment Group is an investment management company firm based in New York City. Fortress was founded in 1998 by Wesley Edens, Rob Kauffman, and Randal Nardone.In the past, Fortress Investment Group had done well, timing the spinning off of a few companies, quite perfectly. However, with Softbank’s purchase of Fortress, the company, as a whole, was not completely ready. CEO, Randal Nardone was noted as saying that he had hoped that Softbank had had the money to make the other companies profitable for all the parties involved in the deal.
Nardone’s prior experience includes working for UBS as their managing director. Besides working for the Swiss banking behemoth, Nardone was Principal at Blackrock Financial Management. Prior to his work at Blackrock, he made partner and was also a member of their executive council at Thatcher Proffitt& Wood, a law firm. By being a big part of Fortress Investment Group, Randal Nardone was one of the firsts as far as finance companies are concerned. Consequently, Fortress was the first private hedge fund to go public. Softbank Group Corp., or Softbank (SBG), purchased Fortress Investment Group for $3.3 billion in cash in December of 2017. A Japanese company, Softbank’s purchase of Fortress did not change the status of Wesley Edens, Rob Kauffman and Randal Nardone’s executive positions at Fortress.Some of the assets that Fortress had as part of its portfolio included Rail America, Drive Shack, New Media Investment Group, Brookdale Senior Living, New Senior Investment Group, Fortress Transportation, and New Residential Investment.Mr. Nardone has been on the board of directors of many companies.
Randal Nardone is currently a director at Brookdale Senior Living, Inc., Eurocastle Investment Limited, Alea Group Holding Ltd. Mr. Nardone is also Vice President and Secretary of Newcastle Investment Holdings, LLC.Fortress Investment Group has received many impressive awards. In 2014, Fortress was named the “Management Form of the Year” by HFMWeek. The company was also recognized as the “Hedge Fund Manager of the Year” by Institutional Investor. In both 2010 and 2011, Institutional Investor recognized Fortress as the “Credit-Focused Fund of the Year,” and the “Discretionary Macro-Focused Hedge Fund of the Year” for 2012.At the age of 51, Randal Nardone was ranked #558 on the Forbes list of World’s richest, in 2007. His estimated worth at the time that he was working at Fortress Investment Group in 2007 was approximately $1.8 Billion. Nardone earned a bachelor’s degree from the University of Connecticut and his Jurist Doctor from Boston University.