When one looks back at how Randal Nardone started and rose through the various positions in his extensive career spanning about two decades at Fortress, they can only be amazed by his commitment and hard work.The co-founder of Fortress has been at the helm since he and his other four colleagues founded the prestigious asset management firm in 1998. Randal Nardone got his law degree from Boston School of Law and a Bachelor of Arts in English and Biology from the University of Connecticut.Upon completing his studies, he proceeded to have stints in some institutions where he held respectable positions. He served as a partner and a member of the executive committee over at Thacher Proffitt and Wood law firm.
Furthermore, he worked at Blackrock Investment Management before proceeding to Union Bank of Switzerland where he held the prestigious position of being their MD.This was the year before he undertook what turned out to be the significant investment of starting Fortress with his colleagues.His early experiences prepared him for his productive association with Fortress. Here he has held various positions since its inception. He has served as the firm’s CEO on an interim basis from 2011 before taking place on a permanent basis from 2013.He was also elected to the Board of the firm in 2006, and he has served on it ever since. Furthermore, he also doubles up as the head of the firm’s finance and legal affairs.At Fortress, it is safe to say that he has had a prosperous career.About two decades ago when the firm was founded quite a few would have anticipated the growth we have witnessed until today.
Today, the hedge fund manages assets worth about $65 billion for its broad clientele.He was at the center of the sale that saw the firm sell its outstanding stake to Soft Bank Group. The auction saw the Japanese firm pay about $3.3 billion. Class A shares traded for $8.08 from $5.83.In Randal’s opinion, the sale would speed up the firm’s growth and provide more credible sources. After the buy-in, Soft Bank Group allowed the in-house management of Fortress to continue with their control of the firm.This attested to their confidence in the leadership offered by Randal Nardone together with his colleagues. Additionally, the excellent reviews Fortress is given by its employees attests to the leadership of Randal Nardone and his colleagues.Employees speak highly of the experience of working at the place and recommend Fortress as a top place to work.
The need for investment manager has been increasing in the past couple of decades. It has lead to numerous investment management firms surfacing in the past few years, one of the biggest of which is the Fortress Investment Group. The company has not only provided excellent results to its institutional and private clients but has also made a global presence by setting up regional offices at critical commercial hubs. Fortress Investment Group was founded in the year 1998 by three of the most critical finance and business executives, Randal Nardone, Wesley Edens, and Rob Kauffmann. With the collective experience of few decades between them of working in the finance sector at Wall Street, they managed to make Fortress Investment Group one of the most prominent investment managers in the United States in a brief period.The consistent performance of Fortress Investment Group is what has helped the company to stay on the top of the investment management field.
It is this consistency in performance and top customer service that it provides that has attracted many acquisitions offers from other financial giants in the past few years. One of the companies that approached Fortress Investment Group for the takeover was Softbank Group Corp, which finally took over the company recently for $3.3 billion. As per the agreement, after the transfer of the sum of cash, all the shares of Fortress Investment Group would be owned wholly by Softbank Group Corp. Softbank is a Japan-based financial giant and has been looking to consolidate its international holdings, and buy out of Fortress Investment Group is a part of its global expansion strategy. Fortress Investment Group has been one of the most successful private equity firms in the United States, and it came into the eyes of the global investors when it was able to successfully come out of the brink of bankruptcy after the economic recession in 2008.
Fortress Investment Group also made into the limelight during the Winter 2010 Olympics held in Canada, when it refused to finance further the Millennium Development Group that was primarily responsible for the development of Olympic Village.It almost could have halted the Olympic Games to continue, but the City of Vancouver took over the responsibility of financing the project as per the instruction of State of BC. After the Olympics were completed, Fortress Investment Group took over as the owner of the Olympic Village. The company has made diversified investments in alternative assets, real estate, credit funds, hedge funds, and more. The diversified nature of its investment strategy, as well as the wide range of services the company provides, has helped Fortress Investment Group to become one of the leading financial institutions in the world. Fortress Investment Group is also amongst the top employers in the United States as per the feedback is given by hundreds of employees on the internet. The company doesn’t only have some of the best allowance packages for its employees but also holds various training and personality development seminars for its employees.
Al Christy, Jr. started Equities First Holdings(EFH) in 2002. Christy, Jr. is the CEO of EFH who change how people can use finance to help them reach financial goals. He ensured EFH’s mission was to help individuals and businesses with gaining capital. EFH’s market consist of people with a good net worth. EFH is able to expand into new markets that exist in London, Australia, China, and South Korea.
Christy, Jr. had the vision to offer clients much needed financial advice and equity loans. EFH provides a financial method to obtain startup capital. EFH operates with integrity and standards to ensure success. EFH sticks to their principles. EFH is ahead of the competition with the use of equity loan. A loan not offered by any other company. Christy, Jr. provides people an alternative lending method than methods used in a traditional lending institution. An equity-loan could have better approval rates than a bank.
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