Category Archives: Co-Founder

Fortress Investment Group Acquisition by SoftBank: Randal Nardone’s View

Before venturing into the financial industry, Randal Nardone was an attorney working for Thatcher Proffitt and Wood Law Firm. In the financial sector, he worked for Blackrock Financial Management as a principal and UBS AG as a managing director. Later, Nardone co-founded the Fortress Investment Group, a renowned company that has managed more than $70 billion in private equity and credit funds. Nardone is both the CEO, principal, and board member of the group. At the company, Nardone is charged with overseeing financial and legal matters. He is cited for his sharp financial skills that he acquired working for different companies in various sectors. Nardone’s rich educational background has been an essential ingredient in his success at the investment giant. He has earned a fortune and ranks #557 on the Forbes list of Billionaires with a net worth of 1.8 billion. Visit angel.co

In 2017, Fortress Investment Group hit the headlines when it announced that SoftBank was acquiring it. SoftBank Group is a Japanese multinational holding corporation that is the 72nd biggest company in the globe by revenue. It purchased Fortress and all its shares at the cost of $3.3 billion after satisfying all the conditions of the transaction. The primary reason SoftBank acquired Fortress is that it was attracted to its great leadership, world-class investment platform, broad-based expertise, and exceptional customer service. SoftBank intends to uphold Fortress’ leadership including Randal Nardone, business model, personnel, and culture that have sustained its outstanding performance over the years. Currently, Fortress operates as an autonomous firm under the SoftBank’s umbrella.

Randal Nardone contends that he is optimistic the acquisition is a good deal, which will strengthen the company substantially. Fortress will have greater financial strength because of SoftBank’s large financial muscles. Both Fortress and SoftBank stand to gain in the acquisition especially financially. SoftBank has a global portfolio of corporations that will be extremely beneficial to Fortress. Fortress will leverage SoftBank’s mass clientele to its investment strategies. Randal Nardone affirms that investors are optimistic about the acquisition especially the increased speed of doing business because of the vast pool of resources available. Read more on https://patch.com/new-york/new-york-city/force-innovation-two-decades-fortress-investment-group