Companies that succeed today are because of strength, dedication, and knowledge of the leaders’ who run them. The success of Fortress Investment group is through the leadership of its founder Randal Nardone. He is the man behind the foundation of the company in 1998. He has versed knowledge in the field of finance for decades. When he decided to start the Fortress Investment Group, he knew he would face competition from other companies, but he could implement his knowledge in finance that he had acquired from past experiences. Randal had been working with the clients in the past thus; he believed that he could make it by implementing positive improvements that would enhance the growth of the company. Randal Nardone is currently the CEO of the company. He has made many contributions that have enhanced the development and growth of the company.
Randal Nardone intended to enter in the field of law where he earned a graduate and a master’s degree in law. He worked for several companies where he so the need of linking up the financial field with the legal sector. He later switched law-related fields and entered into the financial industry. Randal Nardone has grown as a financial specialist and professional in the field of finance. His incredible knowledge in the field of finance has helped him to implement his skills that have helped his company in a wide range.
Nardone has been in the Forbes Billionaire List, ranked at No. #557. He has been serving as among the active management group since 1998. Later, Nardone became among the board of directors in 2006. He has also been on other boards such as the Brookdale Senior Living; serving as the director and the New Residential Investment Corp, serving as Executive Management. Nardone’s contributions have helped the growth of Fortress Investment Group and other industries.
In 1998, an asset administration firm commonly referred as Randal Nardone established fortress Investment Group, Wes Edens and Rob Kauffman who resolved to team up and work jointly and its first headquarters were located in New York City. However, due to the expansion rate, it was experiencing, several offices had to be set up in different regions to accommodate its workloads, and such geographical areas comprises of San Francisco, Shanghai, two in Asia and Singapore in 2014. Also, 2007 was the year when it was involved in the Stock Exchange Market of New York City; therefore, rendering it as the first non-publicly traded firm to go public in the United States.
Between 1999 and 2006, Fortress Investment Group has been approximated to be controlling alternative assets that are valued more than $70.2 billion as well as its private equity rising by around 40 percent. Therefore, it has developed to the extent of now providing debt collateral and hedge funds which are under the administration of Michael Novogratz and Peter Bridger. Previously, Fortress Investment Group practiced real estate investment in the markets of New York City as well as Toronto. It was a coincidence that Peter and Michael had both served as partners in Goldman Sachs and Michael’s verdict to enter the Group was a mega enhancement to its leadership considering Rob Kauffman had already retired. The former head of the global foreign exchange, the famous Jeff Feig joined Fortress in 2014 and was entrusted with the Macro Fund’s co-CIO position.
Finally, Fortress Investment Group’s outstanding reputation and right icon in the financial industry has led it to be named as the 2010 and 2011 years’ Credit Fund. Also, it has accomplished many things since it was set up such as the purchase of the elite Intrawest ski resort machinist in North America in 2006. This purchase was one of the biggest achievements of Fortress Investment Group because it greatly impacted their total assets under management of the company. The acquired company also grew exponentially under the management of the company’s leadership which was led by Peter Briger, Randal Nardone, and Wesley Edens, who were all experts in the management of acquisitions and mergers.
In 2017, Fortress Group made a very brilliant move to consolidate the company with a Japanese organization, SoftBank. This acquisition was met with a lot of criticism from the bad wishers of the company. However, the leadership of Fortress continued to urge their clients to remain patient as they wait for the sweet fruits of the acquisition.