Randal Nardone is one of the Principals at the alternative asset management giant, Fortress. He took over the role of Chief executive officer in 2013 and has been leading the company with unmatched excellence. Nardone has been part of the company since its inception, contribute significantly and his exceptional leadership skills to the success of the firm.
Randal’s career overview
Nonetheless, it is vital to note that even though he is incredibly skilled, Randal’s great accounting skills are natural as he initially pursued a law course at Boston University. He, however, realized that litigation is not something he wanted to wake up every day to and made a transition to finance.
He moved from Thacher, Proffitt & Wood where he was a partner, to Blackrock where he was appointed a managing director. He served this role for a year and moved to UBS, where he was given an opportunity to serve the same position. Nonetheless, his passion had always been to become self-reliant, and when he rubbed shoulders with Wes Edens and Rob Kauffman who had the same goals as him, he quit UBS, and together the trio co-founded Fortress investment group.
Since then, the firm has enjoyed a lot of success, and despite there being several downs, their rich experience in finance has always enabled them to set the company’s sails on the right sea. For instance, due to the harsh market conditions in the public markets and the dwindling share value, Randal Nardone and his fellow principals recently decided to make the company a private entity once again, through a take-over transaction with Softbank. More about of Randal Nardone at newresi.com
Randal’s view on Fortress acquisition
According to Randal Nardone, this move was of the essence as it enabled the company to avoid the high costs of going private through IPO. Randal remains optimistic that going private under Softbank will help strengthen Fortress, thereby enabling it to achieve its objectives.
It is thanks to such wise business moves made by leaders like Randal Nardone that Fortress has always been a market leader in alternative assets. This has also been beneficial to Randal as well, as he is now valued at $1.8 billion, and ranks 557 on Forbes.
In addition to Fortress, Mr. Nardone serves a handful of roles ranging from president, COO, secretary to chairman in companies such as Eurocastle, Newcastle, Mapeley limited and Aircastle limited among many others.