How Randal Nardone Has Helped Fortress Investment Group Grow
Randal Nardone is a prominent attorney who decided to change his career to finance. After starting his profession in finance at Thacher Proffit & Wood, he climbed the ladder by holding a senior position at BlackRock Financial and then later moved to Union Bank of Switzerland. While serving in a high capacity at one of the leading banks in Switzerland, the universe might appear like a loft target for the majority of people, but this was not enough for him. As a result, Randal Nardone made a huge move to establish Fortress Investment Group in 1998. The company has been experiencing tremendous growth since that period.
It is due to this latest development that has given him a chance to appear on the Forbes Billionaire list. Having a net worth of $1.8 Billion, Randal Nardone takes position 557 as the wealthiest person in the world, and all his wealth is self-made. His incredible riches is associated with its shares in Fortress Investment Group. On top of this, he has received more than $100 million in other cash compensation.
Currently, Nardon continues to work as the president of Fortress Investment Group. His come back to the organization in 2011 was altogether suitable, considering his initial role at the company. According to the report released on 30th June 2016, Fortress manages over $70 billion in alternative assets. All these assets are divided into private equity, liquid hedge funds, and also credit funds.
Apart from the noticeable financial accomplishment of Randal Nardone, there are other numerous achievements under his belt. For instance, in 2014, under his leadership, Fortress Investment Group received the award of hedge fund manager of the year from the Institutional Investor. Additionally, the HFMWeek awarded the company Managment Firm of the Year award the same year.
On top of that, the organization has been acknowledged and congratulated by the Institutional investor as the Discretionary Macro-Focused Hedge Fund of the Year” for 2012. It was also recognized as the Credit-Focused Fund of the Year for two consecutive years, which is 2010 and 2011. All this was just achieved together with the company’s latest achievement, as SoftBank Group acquired the company.
At only 51 years old, Nardon has accomplished a significant fortune. He has managed to make his success with the help of strong connections with other excellent investors and also a steadfast determination to his organization’s sustained success. Even though Fortress might no longer be an independent entity, his influence will live on with him as the president of the firm.