As a self made man, Randal Alan Nardone at some point reigned number 557 on the list of Forbes Billionaires (at $1.8 Billion Dollars). Having an educational background from The University of Connecticut (Bachelors Degree) and The Boston School Of Law (Juris Doctor) Randal Nardone started out working with Thatcher Proffitt & Wood and went on to climbed his ladder of success through BlackRock Financial and UBS until he began his entrepreneurial journey. Cofounding the famous Fortress Investment Group in 1998 with Wesley Edens and Peter Breiger Jr. Acting as President, cofounder, and Principle, Randal Nardone was finally admitted to the board of Directors in November 2006.
Aside from his roles in Fortress Investment Groups Randal currently holds 4 Board and Advisory positions; at Gagfah (Director), Springleaf Holdings (Director), Brookdale Senior Living (Director), and New Residential Investment Group (Executive Management). Randal Nardone graced the pages of the Forbes in the year 2007 as a result of Fortress Investment Groups IPO on the NYSE (New York Stock Exchange). With possessions on 53 million shares (at the time worth something around 1.7 Billion Dollars) and earning around $100 million dollars in other compensations his net worth was established. That was short lived because as his return to Fortress Investment Group and CEO in late 2011 that title was no more.
With Randal Nardone at the reigns of the firm, its AUM (assets under management) had grown from around $43 Billion to recorded on June 30, 2016 $70 Billion. His efforts did not go unnoticed, in 2014 his guidance gained Fortress the accolade of “Hedge Fund Manager of the Year” from Institutional Investor and well as “Management Firm of The Year” from HFMweek.In more recent developments, the highly revered Japanese investment giant SoftBank has made an acquisition of Fortress Investment Group in December of 2017 for $3.3 Billion Dollars. Randal Nardone has truly experienced much in his 61 years, being affiliated with a whopping 26 entities according to bloomberg.
Fortress Investment Group was co-founded by Wes Edens in 1998. Wes is among five other principal partners for the investment firm. With assets that include private equity, publicly traded alternative investments, hedge funds, and real estate investments, Fortress Investment Group was recognized by Nomura Holdings, a Japanese financial holding company, and 15 percent of the firm was acquired for $888 million. In 2007, the firm became the first to ever receive a publicly traded buyout, which resulted in an eight percent share value to the public, grossing $600 million within two years after the buyout. That same year, Wes became the Co-Chairman for the Board of Directors. Wes Edens has a B.S. degree in Finance and Business Administration, which he received from Oregon State University in 1984. Within three years, Wes was selected to work for Lehman Brothers and later became managing director in 1993. His experience later led him to BlackRock Asset Investors, where he was appointed partner, as well as managing director, for the firm’s private equity division. Wes’s tenure with BlackRock Asset Investors continued until 1997.
According to BizJournals in 2016, the total compensation for Wes Edens was estimated at $54.4 million annually. Mandated reporting to the U.S. Securities and Exchange Commission shows the total compensation includes a $200,000 salary, $1.1 million in awarded stock, $11.6 million in bonuses, and $478,473 in non-salaried compensation. Earlier this year, Wes Edens announced that Fortress Investment Group closed a deal with Japan’s Softbank Group Corporation for $3.3 billion. Wes, along with his original founding partners will continue their leadership roles within the firm, based on a five-year contract. Fortress Investment Group will continue its financial operations and role as an independent firm within SoftBank.
At the time the deal was closed, Fortress Investment Group was trading at $7.85 per share. It’s not all about successful business dealings that keeps Wes committed to the financial success of the firm. Through all the business ventures and deals over the years, Wes has remained the type of leader that treats his employees with value and respect. He often compares the employees of the firm as “assets.” Its important for Wes to maintain a level of openness with employees in order to know what they value the most. As a leader, Wes Edens makes sure that employees receive the best competitive pay, along with essential benefits in order for them to thrive within their respective careers.
Peter Briger is one of the principals of the Fortress Investment Group. He replaced Rob Kauffman after he left the company. The San Francisco-born entrepreneur is known for his unique approach in helping the company succeed, and he is also credited for developing unique strategies benefiting the company as a whole. Growing up in California, Peter Briger went to the Princeton University taking up a bachelor’s degree, and he took up an MBA at the University Of Pennsylvania- Wharton School Of Business to increase his knowledge in doing business. When he finished his studies, he tried looking for a company that specializes in business and finance, making it his first step to success. He spent two decades working with several businesses that specialize in business and finance, and the skill and experiences he got from these companies made him knowledgeable enough to become one of the next big things in the industry.
When he joined the Fortress Investment Group, he took up the role of being the board of directors’ co-chairman and the principal. He used his knowledge to help the company reach new heights, and he stated that by joining the Fortress Investment Group, he managed to share his knowledge on how to run the company. His leadership transformed the Fortress Investment Group into one of the largest private equity companies in the United States, and his expertise in the industry helped the Fortress Investment Group to grow its assets to more than $65 billion. Peter Briger has a vital role within the company, and he assured their clients that he would continue working hard for them to receive more profit.
Peter Briger recalled that back in the year 2002, he was proposing a lot of projects for the benefit of the company. He showed his colleagues that the projects he proposed would help the Fortress Investment Group go forward. By persuading his colleagues about the projects, they soon gave their permission to let his ideas go through, and he used it to offer the company as a public stock. He is also one of the proponents of introducing the company at the New York Stock exchange, and through his efforts, more than 8% of the company was traded to the public. Peter Briger considered the debut of the Fortress Investment Group to the stock market as a personal goal that came true. Today, he is working with his colleagues to think about ideas that would make the company stronger.
Fortress Investment Group has made a name for itself for being among the top investment firms in the United States. They boast of over 1,500 private clients and institutional investors worldwide and managing and have over $70 billion in assets under their investment management.Among those on the forefront and steering wheel of this company is Randal Nardone, Its Chief Executive Officer. The Boston School of Law alumnus is one of the firm’s founders alongside Wes Edens and Rob Kauffman.Randal Nardone also holds a Bachelor of Arts degree in English and Biology. He was named interim CEO in 2011 and entirely took the seat in 2013. Being on the management team from the founding date in 1998, Randal Nardone was later elected to the board of directors in November 2006. Currently, he also holds the position of principal alongside the likes of Wes Edens.
Randal has led Fortress to some achievements like the sale of their outstanding shares to Soft Bank Group, a Japanese owned organization.This resulted in a total of $3.3 billion with Class A shares going at $8.08 from the original $5.83 and the executives sharing $1.39 billion according to each one’s investment. Randal Nardone said that this offered an opportunity for further growth of the firm and it would open up new credit sources. Randal has an excellent track record in leadership positions previously serving at the Union Bank of Switzerland as the Managing director. Before this, he was at Blackrock Investment Management where he was a principal. He had previously put his law degree to active use when he was at Thacher Proffitt & Wood law firm.
Here, he was not only a partner but also served on the executive committee. Randal’s hard work has earned him a self-made status along with a rank in the Forbes billionaire list. He was number 557 with a net worth of $1.8billion. Soft Bank upon the purchase of Fortress, decided to leave the business model and the leadership intact, crediting them for getting Fortress to its current position. The employees also credit the administration for creating a conducive environment for them to learn and work on top of challenging themselves professionally. Randal moreover dedicates his leadership talent and advisory skills to various boards. He is the president and chairman of SpringLeaf Financial Holdings. He is also the vice president and secretary of Newcastle LLC, and President of NSC1 LLC.
Fortress Investment Group is a globally known corporation. The company has been involved in many transactions, since its’ inception, that has brought it into the spotlight. The latest dealing the company is working on is no exception to this pattern.Recently, Fortress Investment Group was highlighted in a post about the company entering into the lending sector of the finance industry. This expansion into the lending sector will be done under the SoftBank Group Corporation name. The post also discussed the recent promotions of two key employees and the departure of another one. The post can be found on the Bloomberg website for more information.
An Investment management firm, Fortress Investment Group specializes in hedge funds and a variety of other investment tools for businesses and individual investors. The company was founded in 1998 By Wesley R. Edens and Randal A. Nardone. The company’s headquarters is located in New York, New York. The company also has additional offices located throughout the world.The company has a power house of a team for leaders. The co-founders are very active in the day to day activities of the company. Mr. Nardone also serves as a Principal and Director for the company. Adam Levinson is the Chief Executive Officer.
Peter L. Briger Jr. is another Principal of the company. His is also co-chairman for the Board of Directors. The managing partners for the company include Matthias Moser, Andrew Berman, and Dana Latendre. Josh Pack and Drew McKnight were also recently promoted to the positions of managing partners too.The company, Fortress Investment Group, is very well established and have over 1700 active clients on their rosters. These clients have over forty billion dollars of funds invested in the various funds managed by the corporation. These customers are served by the hundreds of professional and experienced employees that are located at the various offices.
The success of Wes Edens is a story of determination and hard work in enabling his dreams to come true. A businessman, a private equity manager and a co-founder of Fortress Investment Group is just a glimpse of his successful life. His career journey began in 1984 after graduating from Oregon State University with a bachelor degree in Business Administration and Finance. After completing his degree, he started working in Lehman Brothers in 1987. By 1993, he was already the company’s managing director and a partner. He later moved to BlackRock Asset Investors in the private equity division sector where he became the managing director and a partner. He maintained his position in BlackRock until 1997. It was not until 1998 when Wes Edens decided to collaborate with five other people to establish Fortress Investment Group. His experience in the financial world helped him work with his partners to make the Fortress Investment Group a great investment consultant for people seeking investment advice.
By 2007, Wes Edens and the rest of his partners were able to take the company public making it the first company to officially have a public buyout. He also helped in creating an atmosphere where his employees are happy working in Fortress Investment Group.Apart from being a principal founder of Fortress, he is also a co-owner of his own team known as the Milwaukee Bucks. He purchased the team in 2004 and has taken necessary strides to ensure the team maintains a lead in the sporting world. In 2017, Wes Edens launched an eSports brand known as FlyQuest. FlyQuest is a professional team that has a similar comparison to League of Legends.
This eSport acquisition is the first for the team. It is also the first stride for the team and Wes Edens to venture in the eSports world.However, apart from eSports acquisitions Wes Edens also take a home pay of up to $54.4 million every year. The take-home pay places him on the list of high earning executives in the private equity sector. He is also a self-made billionaire who has made appearances in the Forbes Billionaire list a couple of times. His commitment to ensuring that Fortress Investment Group remains a reputable company with an impressive portfolio pays off with the number of clients they assist with their investment issues. Wes Edens is not only a focused businessman but a committed leader to the success of his organizations.
The main reason why Christy started Equity first holding was to provide finance to peoples and organizations for starting and running their business. The company offers a short-term loan with low-interest rate, though their loans are offered based on their valuation.
The company was started in the year 2002. During this time Christy was still working with a finance company, after two years he committed his all-time in running the company as the CEO and the president of the company. Over the first year, the equity first holding was managed to complete over 600 transactions which came as a great achievement of the company.
The principal company office is in Indianapolis where it began. They have been working on extending their services to other parts of the word, and they have opened offices in China United Kingdom, Australia, Thailand and more. Equity first holdings also offer finance, loan and investment advice to their clients.