Randal Nardone Co-founded the Fortress Investment Group in 1998. Ever since its founding, he has worked hard in conjunction with his co-founders to put the company in the global map as the major alternative investment managers. In December 2011, he was appointed the interim CEO of Fortress Group. In 2013, he was permanently appointed the CEO of the company, a position he serves in to date together with other two co-CEOs.
Randal Nardone is a very charismatic leader. He possesses a wide range of experience in the investment sector. Prior to co-founding Fortress Investment Group, he was a partner at Thacher Proffitt and Wood. He also worked as a principal officer at BlackRock Financial Management Inc. Randal has also served as the Director of UBS.
A law graduate from Boston University School of Law, Randal Nardone also has a major in English and Biology from the University of Connecticut. In 2007, he was featured in Forbes’s list of World Billionaires. As of 2018 he occupies number 557 in Forbes list of Richest People with a net worth of $1.8. He currently serves in different roles at Fortress Investment Group’s subsidiaries and other companies in leadership positions. In conjunction with his co-principal Wes Edens, they head Fortress’s Private Equity division which is focused on revenue generation from the controlled investments in North America, the Caribbean and Western Europe.
In the 2017’s Fortress Investment Group buyout by SoftBank, Randal Nardone said he was very optimistic about the deal and he was certain it will strengthen Fortress. He went on to say that the buyout will enable his company grow faster and access greater credit sources. In the deal, the shares of Fortress which were trading at $5.83 were purchased at $8.08 per share. This according to Nardone was a good take for Fortress Investors.
During the buyout, which saw SoftBank acquire all the remaining shares of Fortress valued at $3.3 billion, the executives made $1.39 billion. The money was split according to the shares each of the executives had during the sale. Despite the buyout, Fortress Investment Group was allowed to continue as an independent company and the executives retained their positions in the Company. Fortress Investment Group is estimated to be worth $69.6 billion worth of assets under management, half of it being in fixed income and the other half in private equity.
SoftBank, a Japanese organization, has always revolved from one focus to another since the company came into existence four decades ago. These developments have been taking place while the company continues to grow as well as becoming more successful. SoftBank just acquired Fortress Investment Group, the most significant investment management company. With this acquisition, SoftBank has laid a foundation for the next phase for its development making SoftBank one of the leading investment organization internationally. The deal that cost $3.3 billion is unlikely to affect the way Fortress Investment Group operates every day. The deal came with some agreements that will allow Fortress to manage considerable assets.
SoftBank was founded in 1981 by Masayoshi Son as a wholesaler of PC software. However, by the early 1990s, the company had changed into computer trade shows as well as computer magazine publishing. When it came to 1996, the company’s fortunes transformed forever after purchasing a controlling interest in Yahoo!. Since then, SoftBank has expanded and evolved tremendously. Currently, it holds stakes in over 400 internet organizations and is well known for its interest in tech start-ups. However, the company is set to take a different direction with the acquisition of Fortress Investment Group.
Fortress Investment Group is a new organization which is in the fast-paced world of New York City as compared to SoftBank. Randy Nardine founded the company in 1998. The company has over two decades of experience as a leader in the investment management industry. Fortress Group currently manages over 1750 private sector as well as institutional clients. The acquisition deal will allow Fortress to operate independently and have its headquarters in New York City. Considering how much it cost SoftBank to acquire Fortress Group, it is unfortunate that SoftBank will not control the over $40 billion assets of Fortress.
This acquisition is one of the current long line exciting developments for Fortress Investment group. The organization became famous in 2007 when it became the first private equity company to be publicly traded in the United States. With the latest acquisition, Fortress has also become the first private equity firm to be delisted from the New York Stock Exchange.
Launch New York Private Equity Firm Fortress Investment Group
Launching on the NYSE in 2007, the New York City based Private Equity firm Fortress Investment Group manages over $70.2 Billion in Private Equity and alternative assets. Prior to founding his company, Wes Edens was working at BlackRock Financial Management and was a partner at the firm. Their firm began to expand to real estate and hedge fund assets which continues to grow very rapidly. In addition to managing his fund, he is also a part owner of the Milwaukee Bucks. In addition to investing in real estate, he also invests in health care, financial services, and media.
Wes Edens began his career at Lehman Brothers as a partner and managing director until 1993, moving on to BlackRock. After becoming a partner at BlackRock, Wes followed up by forming Fortress Investment Group out of a demonstrated knack for building businesses out of investments.
Catalyst Behind Springleaf Financial – a Major Alternative Lender
Wes Edens was also a catalyst behind the firm Springleaf Financial Services. This is a company which acts as a subprime lender and was once part of AIG. After his firm acquired approximately 80% of AIG, Wes became the new dominant player in the subprime lending business. As an alternative lender, Springleaf Financial managed to become a key player in the financial industry. Springleaf Financial recently became OneMain Financial after a period of re-branding and remains as one of the top players in the alternative lending space.
Chair of Nationstar Mortgage Previously Owned by Centex
The company provides efficient video-based marketing tools that help the businesses and organizations to send their message across to their target audience efficiently. The company has a presence in over 140 countries and is planning to expand its operations further. Recently, the company launched its latest video based marketing application, a video chat application.
The new app launched by Talk Fusion are named Fusion and Go App. The applications recently initiated by Talk Fusion come with the all new features that make them more user-friendly as well highly functional regarding marketing. The applications are available for download in the leading marketplace online, such as iTunes and Play Store for Android users. One of the most popular products of Talk Fusion is video email that allows the users to send video emails.
As the marketing and business world continues to evolve at a rapid pace, it has become more and more important for the companies to adapt to the new age technology and integrate latest applications that make business and marketing operations, seamless and efficient. And, this is what Talk Fusion aims to achieve for its clients by giving them tools that use the power of video marketing in a very simple yet effective manner and what Talk Fusion knows.
It helps in showing the expression that are not visible with words and also helps the person to explain better. The applications of the company are useful for both personal as well as professional use, and many companies across the globe are already using various products offered by Talk Fusion and more information click here.
Bob Reina, CEO as well as the founder of Talk Fusion says that the company has a very innovative approach when it comes to marketing. Moreover, the company emphasizes on research and development in both the technology as well as statistics front to ensure that the technology that the company develops is exactly what the target audience is looking for. Talk Fusion has revolutionized the marketing sphere with its video-based marketing and communication products and Talk Fusion on Facebook.
Foresite Capital is a firm that has ventured and specialized in the sector of healthcare. The company is head by a well-known entrepreneur Jim Tananbaum. He has the experience that is required in the management of such institutions because he has been in the industry for many years. Many healthcare companies that are in need of capital have benefitted greatly from his efforts and dedication of the talented entrepreneur. To know more visit Medium.
Recently, Jim Tananbaum announced the entry of Dr. Molly who is a Ph.D. holder and a successful businessman too. He came in as a venture partner. She is also successful because of having a prior experience working with Illumina as a senior director. She has a lot of experience regarding genomic and pharmaceutical research as well as the development of new drugs. Such experience will be of help in Foresite, and Jim Tananbaum knows the importance of working with great people like her.
While announcing her entry to the company, Jim Tananbaum seemed happy and could not hide his broad smile. It is because he knew the abilities of the skilled researcher and doctor. He was keen on talking about her experience and significant contributions towards scientific research. She has a record that is remarkable and a leadership record that is clean and admirable. He also said that incorporating her skills is a way of building the company’s portfolio and he is looking for ways of expanding and transforming the business into a great organization.
Dr. Molly is known for working with Illumina and establishing ways that are innovative for improvement of protein reagent worldwide. She is experienced in the development of protein reagent, and as a result, she was able to work with Pacific Biosciences where she was the leader in protein sciences. She was keen in helping the company in the development of their protein reagent concerning the chemistry of single molecular real-time sequencing.
Regarding the pharmaceutical industry, she has more than ten years of experience. She has been involved in the development and designing of antibodies that aim at cancer and diseases that are immune. She studied Biochemistry at the Nankai University and obtained a Ph.D. from the University of California.