In 1998, Randal Nardone and Wes Edens Co-founded Fortress Investment Group. The company is an equity firm headquartered in New York. Randal Nardone became the CEO of the company in 2013 after serving as interim CEO for nearly two years. Nardone earned a Bachelor of Arts in Biology and English from the University of Connecticut. Additionally, he received a J.D. from Boston University School of Law. Nardone has an extensive background in the business area. Previously, Randal Nardone held positions such as Managing Director at UBS for one year. Additionally, he worked as the Secretary of Newcastle Investment Corporation for over 14 years. Nardone has served as the Chief Operating Officer at IMPAC Commercial Holdings since 1999.
Nardone has served as a Director since 2008 on the Board of Directors for Florida East Coast Holdings Corporation. Additionally, Nardone has held the position of Director since 2010 on the Springleaf Finance Inc., Board of Directors. Currently, Fortress Investment Group is a global company which manages billions of dollars in assets for investors. Clients of the firm consist of individuals and institutional investors such as hedge funds and private equity firms around the world. There are nearly one thousand employees working for Fortress Investment Group. Since the company was established, Fortress Investment Group has been recognized as an industry pioneer.
In December of 2017, SoftBank purchased Fortress Investment Group for over $ 3 billion dollars. After the SoftBank purchase, the principals remained at Fortress Investment Group. The firm has three principals Randal Nardone, Wes Edens, and Peter Briger. SoftBank is headquartered in Tokyo, Japan. SoftBank committed to maintain the staff, systems, and organizational culture which led to the achievement experienced by Fortress Investment Group prior to the acquisition. Fortress Investment Group has three operational areas which include Private Equity, Permanent Capital Vehicles, and Credit.