Randal Nardone has held a number of positions and responsibilities at Fortress Investment Group since co-founding the company in 1998. Since its founding, he has served on Fortress Investment Group’s management committee. He also became a principal and has been on the board of directors of the investment group since 2006. Additionally, after serving as the interim Chief Executive Officer for nearly two years, he was named the official Chief Operating Officer in 2013. As it stands Randal Nardone, in addition to serving as CEO, has various responsibilities within several of Fortress Investment Group’s subsidiaries.
For example, he holds various leadership position at Eurocastle Investment, FIG LLC, FM Falstaff Advisors, Impac Commercial Holdings, FMA LLC, Seacastle, Newcastle Investment Holdings, and Florida East Coast Railway. Thacher Proffitt & Wood, a law firm, is where Randal Nardone began his career. Further, before co-founding Fortress Investment Group, Nardone also worked as a principal at BlackRock Financial Management and as a managing director at UBS. It is at the University of Connecticut that Nardone earned a bachelor’s degree in English and biology. He continued his education at Boston University School of Law where he earned his law degree. Recently, Fortress Investment Group was purchased by SoftBank in a $3.3 billion-dollar deal.
According to Nardone, this was a necessary step for Fortress as private equity investments have seen a decrease. He also believes that this business deal was used as a cautionary measure at a point in time when there was a lot of things for sale but very few things were worth buying.In essences they made the deal to protect the company and its clients.Since Fortress Investment Group turned into a public company in 2007, they have seen a sharp decline in their stock price, a drop of almost 75 percent. One of the benefits of SoftBank’s purchase of Fortress, is that the company would leave the public sphere and re-enter the private sector; which, in theory, will only make the company better off. Another benefit, is that Fortress will continue as an independent business within SoftBank; allowing Randal Nardone and other members of the leadership team to keep their current positions.