Randal Nardone features at the top in the list of the most respected investment managers internationally. Having worked for various companies before joining Fortress Investment Group, he had acquired adequate knowledge and experience to establish and run an investment management firm that would turn into the success that Fortress Group is at the moment. The educational background of Randal Nardone was nowhere near the prediction of being an investment manager. He had pursued law in his undergraduate program at the University of Connecticut, where he had joined to pursue bachelor’s degree in Arts and Science. After completion of his degree, he decided not to practice law and joined the Union Bank of Switzerland where he started his finance career. This was a challenge to Randal since he had not studied the finance courses in college. This required him to enroll in correspondence courses where he acquired a diploma in finance and investment management.
His interest in finance continued to grow and started realizing gaps in the investment market. He also felt that the employment in which he was never gave him enough room to exercise his innovation and achieve his long-term dreams. This is what challenged him to join hands two other like-minded investment gurus, Rob Kauffman and Wesley Edens, and start Fortress Investment Group. They had a common goal of tapping finance from private equity and then reinvesting the fund in cutting-edge financial instruments that would generate regular cash flows for the investors.
After the formation of Fortress Group, Randal Nardone became the principal, alongside the other founders, Wes and Rob. What followed the establishment of the organization was a huge success. Fortress had just kicked off with less than $400 million in their managed assets. However, after the first five years of its operations, the company had raised its assets under management to over $3 billion. This was as a result of the notable efforts that were put by Nardone and his fellow principals in the operations of the firm. The success of the firm has impacted positively of Randal’s financial position. As the company grows, Randal Nardone has also continued to grow and currently is one of the world’s richest billionaires, featuring in the Forbes list at position 557. A Force of Innovation: Two Decades of Fortress Investment Group