Randal Nardone Retains Ranking Following Fortress Sale

After receiving his juris doctorate degree from the Boston University School of Law, Randal A. Nardone was an executive committee member and partner at the Thacher Proffitt and Wood law firm. From 2011 until 2014, Nardone served as one of Brookdale Senior Living Incorporated’s directors. However, he is best known for his extensive background in investment banking and private-equity funding. Randal Nardone’s current and primary position is as chief executive officer of Fortress Investment Group, the company he co-founded in 1998. Fortress provides credit funds and manages private-equity pools. The Japanese billionaire Masayoshi Son’s company, Softbank, bought Fortress Investment Group in 2017 retaining Randone Nardone as chief executive officer. Softbank acquired Fortress for $3.3 billion in cash, the equivalent of $8.08 per share.

Fortress Investment Group has historically focused investments in real estate investment trusts, senior housing, and infrastructure projects. Softbank expects to double Fortress’s assets during the next few years, expanding its growth into technology innovations such as artificial intelligence, robotics, and alternative energy production. Randal Nardone and two other executives took Fortress Investment Group public in 2007; however, they decided that selling to private investor Son was a wiser course for the company and more

In addition to his position at Fortress, Randal Nardone holds seats and directorships at several financial and investment institutions and corporations. Since 2006, Nardone has held numerous positions at Springleaf Financial Holdings LLC and its subsidiaries. The corporation offers insurance and consumer loans including home mortgages. Randal Nardone is a director at New Fortress Energy LLC, a company Wes Edens, one of his Fortress Investment Group co-founders, established in 2014 and took public in 2018. Nardone is vice president and secretary of another of Edens’ companies, Newcastle Investment Holdings LLC. The company invests in real-estate securities and related assets. Since his beginnings in 1998, Randal Nardone and his co-executives at Fortress have created several subsidiaries and made numerous acquisitions. Nardone remains active in the leadership of these companies.