Fortress Investment Group, LLC was started by co-founders Randal Nardone, Wesley Edens, and Rob Kaufmann in the beginning of 1998. Since its inception, Nardone has been a member of the Management Committee of Fortress. He rose through the ranks to Chief Executive Officer in 2013 after serving as Interim Chief Executive Officer for approximately 18 months following a leave of absence taken by former CEO Dan Mudd.
Randal Nardone received his education from the University of Connecticut where he earned his bachelor’s degree, then Boston University School of Law where he earned a J.D. in their academically prestigious program. Previous work experience includes managing director at UBS, principal for BlackRock Financial Management, and partner and executive committee member of a law firm known as Thatcher, Proffitt, and Wood. To round out his list of accolades, Randal Nardone was once listed as number 557 on the Forbes Wealthiest Billionaires list.
The Fortress Investment Group, LLC was the first large hedge fund to ever go public. They did so on February 9, 2007 amid some speculation yet great excitement from those investors looking to get in on the ground floor of such an opportunity. The innovative way in which Fortress proceeded made many of its founders and ground floor investors exceptionally wealthy. This is how Randal Nardone became number 557 on the world-inclusive Forbes Billionaire List.
Fortress Investment Group trades on the New York Stock Exchange under NYSE: FIG and is known as a global invest ment management firm which prides itself on a high level of diversification. The professionals at Fortress offer unparalleled levels of expertise in a wide variety of specialization topics. These include conventional asset management, private equity, credit, and liquid markets.
Following unpaid fraudulent promissory notes in the amount of $125 million and a few other business mishaps, SoftBank purchased Fortress Investment Group. The purchase shifted delegations of upper management. Fortress Three Top Executives Split $44 Million Bonuses In 2015