Since the sale of Fortress Investment Group to SoftBank Group Corporation, a Japanese investing manager firm, there are speculations of transitioning in leadership. As of the present, the current leaders including Co-founder and CEO Randal Nardone will remain on the team to pursue growth of its divisional operations. Japanese owner, Masayoshi Son has no intentions of replacing the founders, chairmen, and principles of Fortress and all its subsidiary entities. His mission to turn SoftBank into the largest investment firm worldwide by helping his companies expand in global markets of new technologies, such as IoT and artificial intelligence. Read more about Randal Nardone at Crunchbase.
Randal Nardone and two other partners found Fortress Investment Group in 1998, in NY as a global investment managing limited liability company. He continues to hold his positions as Chairman, Chief Executive Officer and Principle which he’s held going on 21 years. Under his direction, he oversees Fortress Portfolio of Investment Fund IV, Investment Fund V LP, Registered Investment Trusts and Credit Corporation. Nardone holds a variety of seats as director and board member for Springleaf Financial Holdings, Fortress Investment Group LLC, and Fortress Credit Corporation. He also serves as director for Florida East Coast Holdings, Springleaf REIT Incorporation, and RIC Co-investment fund LP.
Earlier in his profession, Randal Nardone worked a year for UBS as managing director before co-establishing Fortress Investment Group. He earned a bachelor’s degree in English and Biology and a J.D. from Boston University and the University of Connecticut. His works as a leader and managerial investment professional landed him on the Forbe’s List of World Billionaires in 2007. He ranked number 557 with $1.8 billion in net worth and ownership of 53 million shares valued over $1.5 billion.
The acquisition of Fortress Investment Group did exactly what Randal Nardone and his partners expected, to increase overall internationally expansion. While the firm primarily focuses in real estate, credit, assets, and private equity, SoftBank is introducing opportunities in the technology and communications sectors of investment. According to Business Newswire, the leaders successfully increased its management of assets to $41.4 billion by the June 2018, a year following the purchase of the firm.