Randal Nardone is the current interim chief executive officer of the investment management firm called the Fortress Investment Group. Together with his colleagues in the field of business who are also partners with Goldman Sachs, they established the Fortress Investment Group in 1998, with the aim of creating the best investment management firm in the United States. Since its establishment around 20 years ago, the company has gone through several changes, and it also faced challenges along the way. In 2007, the company debuted at the New York Stock Exchange, and it was traded publicly. Randal Nardone, along with his colleagues, is responsible for the growth of the company and its continued rise in the business and finance sector. The recession in the late 2000s hampered Their growth, but they managed to get back on track after the dreadful event which paralyzed the economy of the United States.
Through the years, the company tried to diversify its investments, and it also invested in other companies that are involved in different industries. By 2016, the Fortress Investment Group reported that they are now handling four core businesses, and Randal Nardone stated that their assets have also grown to a value of $70 billion. The Fortress Investment Group specializes currently in the field of liquid marketing, private equities, and credit, and they are also looking for another expansion as more people are now interested in doing business with the company.Through the years of being an independent financial management firm, the Fortress Investment Group is proud to say that they managed to get through every challenge that they faced along the way.
However, they are not closing their doors for acquisition and merger opportunities. Back in 2016, Randal Nardone revealed that the Softbank Group would acquire the company, and they agreed to the deal because it would open new opportunities for the company. The deal was signed in 2017, and the Softbank Group purchased the Fortress Investment Group for $3 billion. Randal Nardone stated that he still serves as the company’s chief executive officer because the contract stated that he would have to fill the position for the next five years. Randal Nardone is hoping that once the five years is up, he could still be chosen as the chief executive officer of the company, and he stated that he would be ready to do everything to contribute so much to the company that he founded and loved. Learn More.