Daily Archives: July 4, 2018

Randal Nardone: An Optimistic Co-Founder of the Fortress Investment Group

Back in the year 1998, Randal Nardone was discussing plans of creating a new business with Wesley Edens and Rob Kauffman. He noticed that businesses specializing in financial investments and assets management are the ones that experience a greater success. He told his colleagues that it would be better if they would be leaving the company they are working for in the present, and establish a new one where they would serve as the leader. The three left the financial institution that they are working for, and established the Fortress investment Group in 1998, choosing New York City as the best place to erect their headquarters. Randal Nardone, along with Wesley Edens and Rob Kauffman served as the company’s principals, but Rob Kauffman would later be replaced by Peter Briger as one of the principals after the former decided to forge a career of his own.

Randal Nardone assisted the company in so many ways. He supported the move to open the company for public trading, and he also welcomed the idea of selling 8% of the company to the public through shares. He is a visionary himself, allowing the proposals he knew would be beneficial to the company. Recently, he was appointed as the company’s chief executive officer. He placed an emphasis on offering hedge funds, real estate, and various securities to their clients. He also initiated several investment options to their clients, knowing that it would yield profit after studying one of the market patterns. Being one of the former partners of the Goldman Sachs, he used his connection with the company to help them advance the company to become a larger private equity firm.

Randal Nardone is also one of the prominent persons that helped the company get through the economic crisis from 2008 to 2009. During the last years of the 2000s decade, the company experienced one of the worst economic disasters in recent history. Randal Nardone continued to do business, trading with other companies that are still around during the recession. Through his hard work, the company managed to stay afloat, and the cooperation between the principals have made it possible for them to expand their network and post $65 billion worth of assets. According to Nardone, he feels optimistic about the company’s future. Recently, the Fortress Investment Group made a deal with the Softbank Group, a conglomerate based in Japan. The acquisition made the three principals retain their posts, while at the same time being given a new opportunity to grow further.

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