Fortress Investment Group LLC has been quite the success story in the world of finance since its founding in 1998. Fortress handles alternative assets in private equity, credit funds, and liquid hedge funds. Fortress manages the assets of 1,500 plus institutional investors and also private clients. Randal Nardone is the Chief Executive Officer (CEO) at Fortress Investment Group. Mr. Nardone has been the CEO of Fortress Investment Group since 2013 and held the interim CEO position at the company since 2011. Fortress Investment Group is an investment firm based in New York City. Fortress was founded by Rob Kauffman, Wesley Edens, and Randal Nardone.In the past, Fortress Investment Group has been masterful at timing the spinning off of a few companies in a successful way. However, with Softbank’s acquisition of Fortress, the company had not been fully ready. CEO, Nardone had quipped about the deal that he had wished that Softbank had had the funds to make many of the other firms profitable for all stakeholders involved in this transaction.
Randal Nardone has had prior experience working for UBS. At UBS, Nardone was the managing director. Besides UBS, Nardone also worked at Blackrock Financial Management in the Principal role. Before Blackrock, Randal Nardone made partner and was a member of Thatcher Proffitt & Wood’s executive council. By having a law background and handling the CEO position at Fortress quite efficiently, fellow executives, Wes Edens, and Robert Kauffman were part of one of the firsts concerning financial firms. On February 9, 2007, Fortress was the first private hedge fund to become a publicly traded company.In 2017, Softbank Group Corp (SBG), purchased Fortress Investment Group for over 3 billion dollars. The purchase of Fortress Investment Group by Softbank did not change the status of executives like Wesley Edens, Peter Briger, and CEO, Randal Nardone. SBG is a financial firm based in Tokyo, Japan.Some of the assets that Fortress has in their portfolio include Brookdale Senior Living, New Senior Investment Group, Fortress Transportation, Rail America, Drive Shack, New Media Investment Group, and New Residential Investment.
Randal Nardone, one of the co-founders of Fortress Investment Group, is currently a director at Brookdale Senior Living, Inc., Alea Group Holding Ltd as well as Eurocastle Investment Limited. Presently, Fortress manages these companies as part of their corporate portfolio. Fortress Investment Group has received many awards over the years. Fortress was named the “Management Form of the Year” by HFMWeek in 2014. Institutional Investor recognized Fortress Investment Group as the “Hedge Fund Manager of the Year.” Institutional Investor awarded Fortress Investment Group with the “Credit-Focused Fund of the Year,” and the “Discretionary Macro-Focused Hedge Fund of the Year.”For the 2010 Winter Olympics held in Vancouver, British Columbia, Fortress Investment Group was the principal lender to help the Millennium Development Group build the village for the Olympic Athletes in Southeast False Creek, Vancouver, BC. Because of this investment, Fortress Investment Group ended up owning the village once the 2010 Winter Olympics was over.