Randal Nardone is the co-founder and current CEO of Fortress Investment Group LLC. He assisted in this leadership position by Pete Briger, a Co-Chairman and Head of Credit and Real Estate; and Wes Edens, a Co-Chairman and Head of Private Equity & Permanent Capital (and also one of the three co-founders). Since its founding in 1998, the investment management firm has been headquartered in New York City. Nardone and Edens had been joined in founding it by their partner, Rob Kauffman.
Nardone has led the firm to become extremely successful. In 2007 the firm was listed on the NYSE for the first time. In 2006, he became a member of Fortress’ Board of Directors. This made it the first large private equity firm to be publicly traded. In 2008, like many other companies throughout the world, Fortress experienced serious financial trials. However, Nardone helped successfully lead them through this. From 2011 to 2013 he served as the company’s interim CEO, before officially being made CEO in the August of 2013. In 2016 it managed a record $70.2 billion of alternative assets. It has also greatly expanded since its beginning to include management of hedge funds, real estate investments, and debt securities.
In 2017 Fortress was acquired by SoftBank Group Corp. It reportedly purchased it for about $3.3 billion. Selling it to SoftBank was a decision unanimously agreed upon by the Special Committee of Independent Directors of Fortress’s Board of Directors. As part of the agreement, Nardone, Briger, and Edens will continue leading Fortress. Nardone began adult life by earning a B.A. in English and Biology from the University of Connecticut. He went on to earn a J.D from the Boston University School of Law. Through years of intense work in the business sector, he has proven himself an extraordinarily trustworthy leader.
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