Randal Nardone: Linguist, Lawyer, Business Executive
Randal Nardone attended the University of Connecticut where he graduated with a degree in English and Biology. Following this, he attended the Boston University Law School where he earned his Juris Doctor degree. After graduating Law School, Randal joined Thacher Proffitt & Wood as a partner and would later on join the executive committee.
After a few years in Law, Randal shifted his focus to financial services and this decision prompted him to join Blackrock Financial Management. Randal Nardone served the company as a Principal until 1997 following which he became an MD at UBS. In 1998, Randal Nardone and Wes Edens co-founded Fortress Investment Group and in 2013, he was appointed group CEO.
In his time at Fortress, Mr Nardone has started the Fortress Investment Fund IV and V alongside starting the Fortress Registered Investment Trust where he was the VP and COO.
In December 2017, Fortress Group was acquired by SoftBank Corp for a little over $3.3 billion dollars. The acquisition was not intentional to control Fortress Group because the company retained its ability to function independently and continue to invest in the transport sector as they had been doing.
During this acquisition, Randal was optimistic that this partnership with SoftBank was the best move for the company, at the time. The company would grow at a fast rate in the coming years and they would be in a position to access better credit. The stocks at Fortress Investment Group were bought for approximately $8 per share yet, they had been trading at only $5, so this was an overall win for Randal Nardone and his company.
Aside from working at Fortress, Randal Nardone is also the President and Chairman of Springleaf Financial Holdings. He is VP of Newcastle Investment Holdings and as of 2008, he is also the Director of Florida East Coast Holdings Corporation.
Currently, Fortress is valued at almost $70 billion in assets, 50% of it being fixed income. According to Forbes, Randal ranks at number 557 and has a net value of $1.8 billion.