Experience of a manager and their skills are two most common characteristics investors look in a manager. Randal Nardone has both. Two decades ago, Nardone and Wes Edens decided to start up a management company specializing in alternative investment. Their decision has helped many investors around. Fortress now has over 1700 clients (both private clients and corporate entities) and manages assets worth billions of dollars. Due to their success rate, they have been able to expand their operations to more than 17 countries with functional offices. The Nardone dream of a management company is alive and growing. But where did all this start?
Unlike many financial managers in the USA market, Randal Nardone has an educational background in law and also in English and Biology. The two academic disciplines are different and this is probably the reason why Randal Nardone has been an exceptional investment manager both in his approach and planning. The University of Connecticut graduate was fortunate enough to work in both legal and financial institutions before starting Fortress. Some of the most notable institutions where he worked before include Thacher Proffitt & Wood (a law firm) and BlackRock Financial Management. In these two firms, he was exposed to different dynamics of doing business which the experience is helpful as a principal for Fortress.
In 1998, he was part of the founding three principals of Fortress. Randal Nardone main goal in this specific management firm was to help people grow their investment value under an honest and trustworthy company. At Fortress, Randal Nardone is part of Fortress’s Private Equity business. Unlike other departments of Fortress, Nardone is in charge of managing value-oriented assets. Some of the areas in this department that he is passionate about include various financial services, transport (together with Wes), education, health, and energy. Together with Wes Edens, they have been able to constitute a strong team.
Although most of his time is dedicated to Fortress, he is passionate about housing and real estate, and mainstream financial institutions. As a resourceful financial manager, he is part of Brookdale Senior Living (as a director), Springleaf Holdings (as a director) and New Residential Investment Corp (as part of the management).
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