Tag Archives: Secretary of IMPAC Commercial Holdings

The Lawyer Turned Money Man, Co-founder Of Fortress Randal Nardone

Randal Nardone is a 62-year-old self-made billionaire of the Fortress Investment Group where he is one of the partners owning 53 million shares. His net worth is $1.8 billion according to Forbes. He went to Boston University where he got a Doctorate of Jurisprudence. The lawyer that later turned into a financier started working at Thatcher Profit and Wood then at BlackRock Financial and UBS. He then founded Fortress Investment Group in 1998 where he is the chief operating officer and is tasked with overseeing structured finance and legal matters. He and his partners Michael Novogratz, Robert Kauffman, Peter Briger and Wesley Eden, worked their way up to became billionaires. He ranked position 557 on Forbes billionaire list at the year 2007. The former Lehman brothers partner Wesley Eden and Robert Kauffman. Randal Nardone is currently the Interim Chief Executive Officer. Despite him being a lawyer he became great with finances and managing the business.

The fortress investment employees have a lot of positive remarks to say about them working in the company. They say their bosses are friendly and very understanding. They say that the environment is conducive to each employee.

Randal Nardone also has several roles besides his career at the Fortress. He is the president of NCS 1 LLC. Randal Nardone is also the president and chairman of Springfield financial holdings LLC, and the Vice President and secretary of Newcastle investment Holding LLC, the Chief Operating Officer portfolio manager and secretary of RIC Co-investment Fund LP. He served as Chief Operating Officer and Secretary of IMPAC Commercial Holdings. He is the Managing Director at UBS from 1997 to 1998. He was also the director of Alea Group Holdings Bermuda Ltd, the Director of Aircastle Limited since 2004 and Seacube container leasing Limited 2007-2008.

Japan’s Softbank group corporation made a deal with the Fortress Investment Group LLC of $3.3 billion. Before the sale, trading at the fortress stopped before the announcement. The stock trading was lower selling at $7.85 per share compared to the year 2007 where they were 58% higher. Softbank will also pay $8.08 per share for the Fortress which is 39% premium. This will not change anything as the firm will run as usual, and its headquarters will still be in New York. Randal Nardone thinks this is an excellent move that will move the company to a higher level.

Randal Nardone info: www.crunchbase.com/person/randal-nardone