Fortress Investment Group Still Trendsetting After Nearly Two Decades

Randal Nardone founded Fortress Investment Group alongside Wes Edens and Rob Kauffman back in 1998. Each of the founders had incredible experience from their times at Lehman Brothers, Goldman Sachs, Black Rock Financial Management and UBS. They wanted to create an alternative asset strategy investment firm and it was immediately popular.

Assets grew rapidly from $400 million to $3.9 billion. This growth happened in just the first five years. Assets were set at $32.6 billion by the year 2007. The first investments were in real estate in the New York and Toronto areas. The group then began to buy up debt securities as well as hedge funds to grow at such an enormous pace.

Along the way, Fortress Investment Group lost one of its founders, Rob Kauffman, to retirement. He decided to chase passion of car racing and bought up a 50% stake in Michael Waltrip Racing. He also restores vintage muscle cars and owns part of Chip Ginassi Racing.

The guys at Fortress Investment Group have been trendsetting since the late 90s. They were the first private equity firm to go public with an IPO in 2007. Today the investment firm owns $43 billion in assets with nearly 2,000 investors. The group is diversified with private equity, hedge funds and permanent capital vehicles.

The firm employs more than 900 people in New York City. The group does so well because of a diversity of assets. Financial vehicles, real estate and capital all come together to produce long-term cash flow.

Fortress Investment Group is continually innovating in order to squeeze out even more value from its highly complex investments. The firm is excellent at evaluating strategic, structural and operational factors when making investments.

The group is now showing off its expertise in mergers and acquisitions. The firm is made up of deeply connected board members, corporate shareholders and management professionals. This diverse management team is ready, willing and able to tackle the intricacies of capital markets.

The group’s team also has a proven track record of managing a wide range of industries. This all stems from an incredibly diverse portfolio of companies.

Randal Nardone – Co-Founder of Fortress Investment Group

Randal Nardone is the co-founder, principal, and director of Fortress Investment Group. He is married with one child and lives in New York City. His company, Fortress Investment Group, is a global investment management company which is managing nearly $41 billion worth of assets as of March 31, 2018. Fortress specializes in asset-based investing, industry knowledge and specialization, operations management, corporate mergers and acquisitions, and capital markets. Randal Nardone currently ranks as #557 on Forbes list of the world’s billionaires at the age of 51 with a net-worth estimated to be around $1.8 billion. Randal Nardone attended the University of Connecticut and received a Bachelor of Arts degree in English and a Bachelor of Science degree in Biology before pursuing a Doctorate of Jurisprudence at Boston University. With his career starting at Thatcher Proffitt & Wood before going through BlackRock Financial and UBS. Randal Nardone then teamed up with Wesley Edens and Rob Kauffman in 1998 to found Fortress Investment Group.
Currently, Nardone serves as a board member for Brookdale Senior Living, a senior living community company with more than 900 communities in 46 states; Springleaf Holdings, which is now known as OneMain Financial, a provider of personal loans based in Evansville, Indiana; and Gagfah Group, a realty and property management company based in Luxembourg, Germany. He is also involved in an executive management position at New Residential Investment Corp.
While Nardone is still managing Fortress Investment Group, the company was purchased by SoftBank in 2017 for $3.3 billion. He agreed to the acquisition in hopes of it strengthening Fortress and allowing the company to grow faster and access larger credit sources with the giant Japanese company behind it. Thus far, SoftBank has happily allowed Fortress to to continue operations as an essentially independent company despite the acquisition. While it is still too soon to determine how this acquisition will affect Fortress long-term, Nardone remains optimistic. Click here