For an individual business professional to sit on the board of directors of the Florida East Coast Railway, Eurocastle Investment, Impac Commercial Holdings, FMA LLC, Seacastle, FM Falstaff Advisors, Newcastle Investment Holdings, FIG LLC among others he requires that golden touch that comes with experience. This however is true for Randal Nardone. He is one of the founding members of The Fortress Investment group and has been come be revered in business circles over the years together with Wesley R. Edens, and Rob Kauffman. His passion for business began when he joined BlackRock Financial Management from Thacher Proffitt & Wood a law firm where he was already a partner.
Randal Nardone had studied for his Juris Doctor degree at Boston University school of law. He would then join UBS as a managing director. He had always harbored the ambition of starting an asset management company which would be used as a private equity fund for his future investments.It was thus no surprise when together with his two colleagues brought together an initial investment of four hundred million dollars to start the fortress investment Group. His passion for the same has only grown since that time in 1998 and he was able to oversee the growth of this capital to almost 3.5 billion dollars within the first five years. This ensured that the group was steadily becoming one of the biggest held private asset management firms in the country. This saw him get elected to the board of directors in 2006 at a time when the group was experiencing rapid expansion and needed some steady hands at the helm.
The fortress investment Group would be listed on the New York Stock Exchange in 2007 being underwritten by Goldman Sachs and the Lehman Brothers. This saw Randal Nardone join the prestigious billionaires club as listed in Forbes Magazine at the time. Randal Nardone took over as interim CEO sometime back in 2011 and has continued to steer the group to larger acquisitions as well as mergers. He was at the helm when Fortress took over AIG’s American subsidiary and transformed it into what is today known as Springleaf Financial Holdings and serves as the current president and Chairman of the Board of Directors. Tokyo-based SoftBank Group bought fortress investment group for approximately 3.3 billion, which Randal Nardone referred to as a timely investment at a time when private equity funding was declining while Fortress was experience expanded business especially in its Asian market.