Randal Nardone is one of the co-founders of the Fortress Investment Group, along with Rob Kauffman and Wes Edens. The idea to establish an investment management firm originated when he was still working with a private financial firm, and he worked with Wes Edens and Rob Kauffman who also had great ideas on how they could earn more. Through their observation, they found out that an investment firm has a higher chance of making more money, and they settled into the idea of creating their investment management firm. They started to process the permits that they would need in building a business and finally launched the Fortress Investment Group in 1998 after they quit their jobs.
They started to build partnerships with other financial institutions like the Goldman Sachs to help them during their first few years in the business. Today, the company is celebrating their 20th anniversary, and Randal Nardone can’t help but look at how they managed to triumph over the challenges that they faced. After the company’s debut at the New York Stock Exchange in 1997, a global recession started to take place. Randal Nardone and his colleagues thought that they would be significantly affected by the recession, but they kept having a positive outlook and prepared before the economic crisis worsens. In the end, they are one of the few companies lucky enough to experience growth during the times of an economic recession, and because of the leadership that they have shown during the crisis, the company was awarded by several business organizations.
Randal Nardone is the current chief executive officer of the company, and he proudly revealed that the asset they are managing rose to around $65 billion. They are also handling four core businesses and helping a lot of companies from different industries. More people are trying to get their services because they already built a positive reputation among the business people. In 2017, the Fortress Investment Group went into an acquisition agreement with the Softbank Group, a Japanese conglomerate which purchased the company for $3 billion. Stated in the contract that was signed would be an assurance to Randal Nardone and his other colleagues to stay as the company’s executives. Now that they have found another mother company that would look after them, he wanted to ensure their clients that they will be performing better to provide them with more sets of choices to grow their assets and businesses. Fortress Three Top Executives Split $44 Million Bonuses In 2015